DEDHAM, Mass., Dec. 1, 2015
/CNW/ -- Atlantic Power Corporation ("Atlantic Power") and
Atlantic Power Preferred Equity Ltd. (TSX: AZP.PR.A, AZP.PR.B and
AZP.PR.C) (the "Corporation"), a subsidiary of Atlantic Power,
announced that the dividend rate on the Corporation's outstanding
Cumulative Floating Rate Preferred Shares, Series 3 (AZP.PR.C) (the
"Series 3 Shares") will be 4.60%, which will be payable
March 31, 2016.
The Series 3 Shares dividend rate was calculated on November 30, 2015 to be 4.60%, representing the
sum of the Canadian Government 90-day Treasury Bill yield (using
the three-month average result of 0.42%) plus 4.18%.
Tax Information for Shareholders
The Corporation designates the dividend on the Series 3 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 for
advice regarding the tax consequences of purchasing or owning
preferred shares of the Corporation.
About Atlantic Power Preferred Equity Ltd.
The Corporation is 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, Kenilworth, and
Morris power generating facilities.
About Atlantic Power
Atlantic Power owns and operates a diverse fleet of power
generation assets in the United
States and Canada. The Company's power generation
projects sell electricity to utilities and other large commercial
customers mainly under long-term power purchase agreements, which
seek to minimize exposure to changes in commodity prices. Atlantic
Power's power generation projects in operation have an aggregate
gross electric generation capacity of approximately 2,141 megawatts
("MW") in which its aggregate ownership interest is approximately
1,504 MW. Atlantic Power's current portfolio consists of
interests in twenty-three operational power generation projects
across nine states in the United
States and two provinces in Canada.
Atlantic Power 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
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.
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SOURCE Atlantic Power Corporation