Capital Power declares dividends for its Common and Preference shares and suspends its Dividend Reinvestment Plan
EDMONTON, Alberta – The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.5475 per share on the outstanding common shares for the quarter ending December 31, 2021. The dividend is payable on January 31, 2022 to shareholders of record at the close of business on December 31, 2021.
Effective for the December 31, 2021 dividend, Capital Power will be suspending its Dividend Reinvestment Plan (DRIP) for its common shares. Shareholders participating in the DRIP will begin receiving cash dividends on the January 31, 2022 payment date. If the Company elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at its suspension and remain enrolled at reinstatement, will automatically resume participation in the DRIP.
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 | $0.1638125 | December 16, 2021 | December 31, 2021 |
| Series 3 | CPX.PR.C | $0.3408125 | December 16, 2021 | December 31, 2021 |
| Series 5 | CPX.PR.E | $0.327375 | December 16, 2021 | December 31, 2021 |
| Series 7 | CPX.PR.G | $0.375 | December 16, 2021 | December 31, 2021 |
| Series 9 | CPX.PR.I | $0.359375 | December 16, 2021 | December 31, 2021 |
| Series 11 | CPX.PR.K | $0.359375 | December 16, 2021 | December 31, 2021 |
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 wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own, and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns over 6,400 MW of power generation capacity at 26 facilities across North America. Projects in advanced development include 425 MW of owned renewable generation capacity in North Carolina and Alberta and 560 MW of incremental natural gas combined cycle capacity from the repowering of Genesee 1 and 2 in Alberta.