DEDHAM, Mass., March 1, 2021 /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 the dividend rate on the
Corporation's outstanding Cumulative Floating Rate Preferred
Shares, Series 3 (AZP.PR.C) (the "Series 3 Shares") for the quarter
ending June 30, 2021 will be
4.27%.
The Series 3 Shares dividend rate was calculated on February 26, 2021 to be 4.27%, representing the
sum of the Canadian Government 90-day Treasury Bill yield (using
the three-month average result of 0.09%) plus 4.18%. The
dividend for the quarter ending June 30,
2021 will only be payable if, as and when declared by the
board of directors of the Corporation.
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 holds,
directly or indirectly, Atlantic Power's business and power
generation and other assets in British
Columbia and the United
States.
About Atlantic Power
Atlantic Power is an independent power producer that owns power
generation assets in eleven states in the
United States and two provinces in Canada. The Company's generation projects sell
electricity and steam to investment-grade utilities and other
creditworthy large customers predominantly under long–term PPAs
that have expiration dates ranging from 2021 to 2043. The Company
seeks to minimize its exposure to commodity prices through
provisions in the contracts, fuel supply agreements and hedging
arrangements. The projects are diversified by geography, fuel type,
technology, dispatch profile and offtaker (customer). Approximately
75% of the projects in operation are 100% owned and directly
operated and maintained by the Company. The Company has expertise
in operating most fuel types, including gas, hydro, and biomass,
and it owns a 40% interest in one coal project.
Atlantic Power's shares trade 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 Atlantic Power's financial data and other publicly
filed documents are available 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