BOSTON, Aug. 15, 2011 /PRNewswire/ -- Atlantic Power
Corporation (TSX: ATP) (NYSE: AT) (the "Company") today announced
its distribution for the month of August
2011. A dividend of Cdn$0.0912 per common share will be payable on
September 30, 2011 to holders of
record at the close of business on August
31, 2011.
Tax Information for Shareholders
Atlantic Power Corporation designates this dividend to be an
"eligible dividend" pursuant to subsection 89(14) of the Income Tax
Act (Canada) and its equivalent in
any provinces of Canada.
U.S. individual or other non-corporate taxpayers should be
eligible for the reduced rate of tax currently applicable to
"qualified dividends" provided that the investor meets the holding
period and any other requirements.
The Company's common share dividend is subject to a 15%
withholding tax for U.S. holders. U.S. individuals holding
shares in taxable accounts may be eligible to receive a credit on
their U.S. income tax return for this withholding tax. U.S.
individuals holding the Company's common shares in Individual
Retirement Accounts ("IRAs") may be exempt from withholding tax
pursuant to the Canada – U.S.
Income Tax Convention.
Taxpayers should always seek their own independent qualified
professionals regarding the tax consequences of purchasing or
owning common shares of the Company. Individuals who believe
the withholding tax exemption applies to their IRA should contact
their broker to determine how to claim the exemption.
About Atlantic Power
Atlantic Power Corporation owns and operates a diverse fleet of
power generation and infrastructure assets in the United States. Our power generation
projects sell electricity to utilities and other large commercial
customers under long-term power purchase agreements, which seek to
minimize exposure to changes in commodity prices. Our power
generation projects in operation have an aggregate gross electric
generation capacity of approximately 1,948 megawatts in which our
ownership interest is approximately 871 MW. Our corporate
strategy is to generate stable cash flows from our existing assets
and to make accretive acquisitions to sustain our dividend payout
to shareholders, which is currently paid monthly at an annual rate
of Cdn$1.094 per share. Our
current portfolio consists of interests in 12 operational power
generation projects across 9 states, one biomass project under
construction in Georgia, and an
84-mile, 500 kilovolt electric transmission line located in
California. Atlantic Power
also owns a majority interest in Rollcast Energy, a biomass power
plant developer with several projects under development.
Atlantic Power trades on the New York Stock Exchange under the
symbol AT, on the Toronto Stock Exchange under the symbol ATP and
has a market capitalization of approximately $1.0 billion. For more information, please
visit the Company's website at www.atlanticpower.com or
contact:
Atlantic Power Corporation
Barry Welch, Chief Executive
Officer,
(617) 977-2700
info@atlanticpower.com
SOURCE Atlantic Power Corporation