BOSTON, Sept. 5, 2012 /PRNewswire/ -- Atlantic Power
Corporation (Atlantic Power) and Atlantic Power Preferred Equity
Ltd. (TSX: AZP.PR.A and AZP.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 September 28, 2012 to shareholders of record at
the close of business on September 17, 2012.
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 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.
About Atlantic Power Corporation
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 approximate 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
$1.7 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
Atlantic Power's website.
SOURCE Atlantic Power Corporation