BOSTON, Dec. 6, 2011 /PRNewswire/ -- Atlantic Power
Corporation (Atlantic Power) and CPI Preferred Equity Ltd. (TSX:
CZP.PR.A and CZP.PR.B) (the Corporation), a subsidiary of Atlantic
Power, announced that the Corporation has declared quarterly
dividends of Cdn$0.303125 per share
on its Cumulative Redeemable Preferred Shares, Series 1 (the Series
1 Shares) and Cdn$0.437500 on its
Cumulative Rate Reset Preferred Shares, Series 2 (the Series 2
Shares).
The dividends on the Series 1 Shares and the Series 2 Shares are
to be paid on December 30, 2011 to shareholders of record at
the close of business on December 16, 2011.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares and the Series 2 Shares to be an "eligible dividend"
pursuant to subsection 89(14) of the Income Tax Act
(Canada) and its equivalent in any
of the provinces and territories 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.
Taxpayers should always seek their own independent qualified
professionals regarding the tax consequences of purchasing or
owning preferred shares of the Corporation.
About Atlantic Power
Atlantic Power is a leading publicly traded, power generation
and infrastructure company with a well diversified portfolio of
assets in the United States and
Canada. 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. The net
generating capacity of the Company's projects is approximately
2,116 MW, consisting of interests in 30 operational power
generation projects across 11 states and 2 provinces, one 53 MW
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 is incorporated in British
Columbia, headquartered in Boston and has offices in Chicago, Toronto, and Richmond, B.C.
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$1.15 per share.
Atlantic Power has a market capitalization of approximately
$1.5 billion and trades on the New
York Stock Exchange under the symbol AT and on the Toronto Stock
Exchange under the symbol ATP.
Copies of financial data and other publicly filed documents are
filed on SEDAR at www.sedar.com or on EDGAR at
www.sec.gov/edgar.shtml under "Atlantic Power Corporation" or on
Atlantic Power's website.
About CPI Preferred Equity Ltd.
The Corporation is a corporation incorporated under the laws of
the Province of Alberta and is an
indirect, wholly-owned subsidiary of Atlantic Power. The
Corporation directly holds Atlantic Power's business and power
generation and other assets in British
Columbia, operates as a holding company and indirectly holds
certain of Atlantic Power's business and power generation and other
assets in the United States,
including Atlantic Power's Curtis
Palmer, Manchief, Frederickson, Naval Station, North Island,
Naval Training Center, Oxnard,
Greeley, Kenilworth, and Morris
power generating facilities. These facilities have a total
generating capacity of approximately 1,245 megawatts (representing
approximately 59% of the total generating capacity of Atlantic
Power's assets).
For more information, please visit Atlantic Power's website at
www.atlanticpower.com or contact:
Atlantic Power Corporation
Amanda Wagemaker, Investor
Relations
(617) 977-2700
info@atlanticpower.com
SOURCE Atlantic Power Corporation; CPI Preferred Equity Ltd.