Capital Power declares dividends for its Common and Preference shares
EDMONTON, Alberta – November 17, 2016 – 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 December 31, 2016. The dividend is payable on January 31, 2017 to shareholders of record at the close of business on December 30, 2016.
The Board of Directors also declared the following dividends on its Cumulative Rate Reset (Series 1, 3, 5) and Cumulative Minimum Rate Reset (Series 7) Preference Shares:
| Shares | TSX Stock Symbol | Dividend Per Share | Record Date | Payment Date |
|---|---|---|---|---|
| Series 1 | CPX.PR.A | $0.19125 | December 15, 2016 | December 30, 2016 |
| Series 3 | CPX.PR.C | $0.2875 | December 15, 2016 | December 30, 2016 |
| Series 5 | CPX.PR.E | $0.28125 | December 15, 2016 | December 30, 2016 |
| Series 7 | CPX.PR.G | $0.3616(1) | December 15, 2016 | December 30, 2016 |
- The initial quarterly dividend on the Series 7 Cumulative Minimum Rate Reset Preference Shares represents the time period from when the initial share offering closed on October 4, 2016 to December 31, 2016. Future quarterly dividends, if declared, will be $0.375 per quarter or $1.50 per annum for the initial five-year period ending 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 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 are in advanced development in Alberta and under construction in Kansas.