Capital Power declares dividends for its Common and Preference shares and announces a 7.1% dividend increase for its common shares
EDMONTON, Alberta – The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.4175 per share on the outstanding common shares for the quarter ending September 30, 2017. The dividend is payable on October 31, 2017 to shareholders of record at the close of business on September 29, 2017. The quarterly dividend of $0.4175 per common share compared to the previous $0.39 dividend represents a 7.1% increase, and an annualized dividend of $1.67 per common share.
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||$0.19125||September 18, 2017||September 29, 2017|
|Series 3||CPX.PR.C||$0.2875||September 18, 2017||September 29, 2017|
|Series 5||CPX.PR.E||$0.28125||September 18, 2017||September 29, 2017|
|Series 7||CPX.PR.G||$0.375||September 18, 2017||September 29, 2017|
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 approximately 4,500 megawatts of power generation capacity at 24 facilities and is pursuing contracted generation capacity throughout North America.