Capital Power declares dividends for its Common and Cumulative Rate Reset Preference shares and announces a 6.8% dividend increase for its common shares
EDMONTON, Alberta – The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.39 per share on the outstanding common shares for the quarter ending September 30, 2016. The dividend is payable on October 31, 2016 to shareholders of record at the close of business on September 30, 2016. The quarterly dividend of $0.39 per common share compared to the previous $0.365 dividend represents a 6.8% increase, and an annualized dividend of $1.56 per common share.
The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares:
| Shares | TSX Stock Symbol | Dividend Per Share | Record Date | Payment Date |
|---|---|---|---|---|
| Series 1 | CPX.PR.A | $0.19125 | September 19, 2016 | September 30, 2016 |
| Series 3 | CPX.PR.C | $0.2875 | September 19, 2016 | September 30, 2016 |
| Series 5 | CPX.PR.E | $0.28125 | September 19, 2016 | September 30, 2016 |
The dividends for the common shares and preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,200 megawatts of power generation capacity at 18 facilities across North America. More than 700 megawatts of owned generation capacity is in advanced development in Alberta and Kansas.