Atlantic Power Corporation Announces August 2012 Common Share Dividend
15 August 2012 - 8:01AM
PR Newswire (Canada)
BOSTON, Aug. 15, 2012 /CNW/ - Atlantic Power Corporation (the
"Company") today announced its distribution for the month of August
2012. A dividend of Cdn$0.09583 per common share will be payable on
September 28, 2012 to holders of record at the close of business on
August 31, 2012. Dividend Reinvestment Plan On August 8, 2012,
Atlantic Power announced the details of the Company's Dividend
Reinvestment Plan ("DRIP" or the "Plan"). The DRIP allows eligible
holders of Common Shares to reinvest their cash dividends (if, as
and when declared by the Company's board of directors and paid) to
acquire additional Common Shares of Atlantic Power at a 3% discount
to market price, as defined in the Plan. All holders of Common
Shares who are Canadian or U.S. residents are eligible to
participate in the Plan. Shareholders who wish to participate in
the DRIP should contact their brokerage firm to enroll in the Plan.
A complete copy of the DRIP and enrollment information is available
in the "Investors" section of the Company's website
www.atlanticpower.com or here. Shareholders are urged to carefully
read the complete Plan before making any decisions regarding their
participation in the DRIP. Participation in the DRIP does not
relieve shareholders of any liability for taxes that may be payable
in respect of dividends that are reinvested in new Common Shares
pursuant to the DRIP. Eligible shareholders interested in
participating in the DRIP should consult their own tax advisors
concerning the tax implications and consequences of their
participation in the DRIP in their particular circumstances. This
news release does not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction. Tax
Information for Shareholders Atlantic Power Corporation designates
its 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 25% withholding tax rate for
holders that are not residents of Canada, which may be reduced
pursuant to an applicable tax treaty. The withholding tax rate is
15% for U.S.-resident holders that qualify for the benefits of the
Canada – U.S. Income Tax Convention. Non-Canadian holders may be
required by their brokers to complete a Form NR301 (or an
equivalent form) in order to demonstrate their entitlement to a
treaty-reduced rate of withholding tax after December 31, 2012.
U.S. and other non-Canadian holders should consult their brokers
about the requirement to provide such forms. 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 is a leading publicly traded, power generation and
infrastructure company with a well diversified portfolio of assets
in the United States and Canada. The Company's 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
2,141 MW, consisting of interests in 31 operational power
generation projects across 11 states and 2 provinces and an
84-mile, 500 kilovolt electric transmission line located in
California. In addition, the Company has one 53 MW biomass project
under construction in Georgia and one approximately 300 MW wind
project under construction in Oklahoma. Atlantic Power also owns a
majority interest in Rollcast Energy, a biomass power plant
developer in Charlotte, NC. Atlantic Power is incorporated in
British Columbia, headquartered in Boston and has offices in
Chicago, Toronto, Vancouver and San Diego. The Company's corporate
strategy is to increase the value of the company through accretive
acquisitions in North American markets while generating stable,
contracted cash flows from its existing assets to sustain its
dividend payout to shareholders. The Company's dividend is
currently paid monthly at an annual rate of Cdn$1.15 per share.
Atlantic Power has a market capitalization of approximately $1.6
billion and trades on the New York Stock Exchange under the symbol
AT and on the Toronto Stock Exchange under the symbol ATP. For more
information, please visit the Company's website at
www.atlanticpower.com or contact: Atlantic Power Corporation Amanda
Wagemaker, Investor Relations(617) 977-2700 info@atlanticpower.com
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
the Company's website. Atlantic Power Corporation CONTACT:
http://www.atlanticpower.comhttp://photos.prnewswire.com/prnh/20110809/NE49346LOGOPRN
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