BOSTON, Jan. 15, 2014 /CNW/
- Atlantic Power Corporation (TSX: ATP) (NYSE: AT) (the "Company"
or "Atlantic Power") today announced its distribution for the month
of January 2014. A dividend of
Cdn$0.03333 per common share will be
payable on February
28, 2014 to holders of record at the close of
business on January
31, 2014.
Tax Information for Shareholders
Atlantic Power Corporation designates its entire 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 may 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. 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 owns and operates a diverse fleet of power
generation assets in the United States and Canada. Atlantic Power's power generation
projects sell electricity to utilities and other large commercial
customers largely under long-term power purchase agreements, which
seek to minimize exposure to changes in commodity prices. Its power
generation projects in operation have an aggregate gross electric
generation capacity of approximately 3,018 MW in which its
aggregate ownership interest is approximately 2,098 MW. Its current
portfolio consists of interests in twenty-nine operational power
generation projects across eleven states in the United
States and two provinces in Canada.
Atlantic Power has a market capitalization of approximately
$400
million 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.
SOURCE Atlantic Power Corporation