Atlantic Power Corporation Announces August 2011 Common Share Dividend
15 August 2011 - 5:24PM
PR Newswire (Canada)
BOSTON, Aug. 15, 2011 /CNW/ -- 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 CorporationBarry Welch, Chief Executive
Officer, (617) 977-2700info@atlanticpower.com Web Site:
http://www.atlanticpower.com
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