BOSTON, May 15, 2014 /PRNewswire/ -- Atlantic Power
Corporation (TSX: ATP) (NYSE: AT) (the "Company" or "Atlantic
Power") today announced its distribution for the month of May
2014. A dividend of Cdn$0.03333
per common share will be payable on June 30,
2014 to holders of record at the close of business on
May 30, 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 2,945 MW in which its
aggregate ownership interest is approximately 2,024 MW. These
totals exclude the Company's 40% interest in the Delta-Person
generating station that the Company entered into an agreement to
sell in December 2012. Its current portfolio consists of
interests in twenty-eight 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.
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SOURCE Atlantic Power Corporation