Atlantic Power Corporation Announces September 2012 Common Share Dividend
14 September 2012 - 8:01AM
PR Newswire (Canada)
BOSTON, Sept. 14, 2012 /CNW/ - Atlantic Power Corporation (the
"Company") today announced its distribution for the month of
September 2012. A dividend of Cdn$0.09583 per common share will be
payable on October 31, 2012 to holders of record at the close of
business on September 28, 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 $1.7
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
the Company's website. Atlantic Power Corporation CONTACT:
http://www.atlanticpower.comhttp://photos.prnewswire.com/prnh/20110809/NE49346LOGOPRN
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