EDMONTON, Alberta – The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) announced today the declaration for the initial quarterly dividend of $0.3151 per share on its Cumulative Rate Reset Preference Shares (Series 3) (TSX: CPX.PR.C).
The dividend is to be paid on March 28, 2013 to shareholders of record at the close of business on March 15, 2013. This initial quarterly dividend represents the time period from when the initial share offering closed on December 18, 2012 to March 31, 2013. Future quarterly dividends, if declared, will be $0.2875 per quarter or $1.15 per annum for the initial five-year period ending December 31, 2018.
The dividends 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 3,600 megawatts of power generation capacity at 16 facilities across North America. An additional 595 megawatts of owned generation capacity is under construction or in advanced development in Alberta and Ontario.