Atlantic Power Corporation Announces October 2011 Common Share Dividend
12 Oktober 2011 - 7:46AM
PR Newswire (Canada)
BOSTON, Oct. 14, 2011 /CNW/ -- Atlantic Power Corporation (the
"Company") today announced its distribution for the month of
October 2011. A dividend of Cdn$0.0912 per common share will be
payable on November 30, 2011 to holders of record at the close of
business on October 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 CONTACT: Barry Welch, Chief Executive Officer,
Atlantic Power Corporation,+1-617-977-2700, info@atlanticpower.com
Web Site:http://www.atlanticpower.com
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