OAKVILLE, ON, March 10, 2016 /PRNewswire/ - Algonquin Power & Utilities Corp.
("APUC" or the "Company") (TSX: AQN, AQN.PR.A, AQN.PR.D) announced
today that the Board of Directors of APUC (the "Board") has declared a
dividend of U.S. $0.09625 per common share, payable on April 15, 2016
to the shareholders of record on March 31, 2016 for the period from
January 1, 2016 to March 31, 2016. Shareholders can elect to receive
the dividend in the amount of Cdn $0.1287.
The common share dividend will be paid in cash or, if a shareholder has
enrolled in the shareholder dividend reinvestment plan (the "Plan"),
dividends will be reinvested in additional shares ("Plan Shares") of
APUC as per the Plan, based on equivalent Canadian funds. Plan Shares
will be acquired by way of a Treasury Purchase at the average market
price as defined in the Plan less a 5% discount for the first quarter
of 2016.
Additionally, the Board has declared the following preferred share
dividends:
-
CDN $0.28125 per Preferred Share, Series A, payable in cash on March 31
to Preferred Share, Series A holders of record on March 15, 2016 for
the period from December 31, 2015 to, but excluding, March 31, 2016.
-
CDN $0.3125 per Preferred Share, Series D, payable in cash on March 31,
2016 to Preferred Share, Series D holders of record on March 15, 2016
for the period from December 31, 2015 to, but excluding, March 31,
2016.
Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies
its common shareholders, its Series A Preferred Shareholders and its
Series D Preferred Shareholders that such dividends declared qualify as
eligible dividends.
The quarterly dividends payable on common shares are declared in U.S.
dollars. Beneficial shareholders (those who hold common shares through
a financial intermediary) who are resident in Canada or the United
States may request to receive their dividends in either U.S. dollars or
the Canadian dollar equivalent by contacting the financial intermediary
with whom the common shares are held. Unless the Canadian dollar
equivalent is requested, shareholders will receive dividends in U.S.
dollars, which, as is often the case, the financial intermediary may
convert to Canadian dollars. Registered shareholders receive dividend
payments in the currency of residency. Registered shareholders may opt
to change the payment currency by contacting CST Trust Company at
1-800-387-0825 prior to the record date of the dividend.
The Canadian dollar equivalent of the quarterly dividend is based on the
Bank of Canada noon exchange rate on the declaration date.
About Algonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp. is a $4.8 billion North American
diversified generation, transmission and distribution utility. The
Distribution Group provides rate regulated water, electricity and
natural gas utility services to over 560,000 customers in the United
States. The Generation Group owns a portfolio of North American based
contracted wind, solar, hydroelectric and natural gas powered
generating facilities representing more than 1,100 MW of installed
capacity. The Transmission Group invests in rate regulated electric
transmission and natural gas pipeline systems in the United States and
Canada. Algonquin Power & Utilities delivers continuing growth through
an expanding pipeline of renewable energy development projects, organic
growth within its regulated distribution and transmission businesses,
and the pursuit of accretive acquisitions. Common shares, preferred
shares, and instalment receipts are traded on the Toronto Stock
Exchange under the symbols AQN, AQN.PR.A, AQN.PR.D, and AQN.IR. Visit
Algonquin Power & Utilities at www.AlgonquinPowerandUtilities.com and follow us on Twitter @AQN_Utilities.
SOURCE Algonquin Power & Utilities Corp.
