Algonquin Power & Utilities Corp. Declares Fourth Quarter 2020 Common Share Dividend of U.S. $0.1551 (C$0.2019)

Rhea-AI Summary

Algonquin Power & Utilities Corp. (AQN) declared a dividend of U.S. $0.1551 per common share, payable on January 15, 2021, to shareholders of record by December 31, 2020. Shareholders can opt for Canadian dollars at C$0.2019. The dividend qualifies as an eligible dividend under the Income Tax Act in Canada. APUC boasts approximately $11 billion in assets and a focus on sustainable energy solutions, with over 2 GW of renewable energy capacity and 1.4 GW under construction.

Positive

• Declared a quarterly dividend of U.S. $0.1551, reinforcing shareholder income.
• Strong financial position with approximately $11 billion in total assets.
• Leadership in renewable energy with over 2 GW of installed capacity.

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• None.

OAKVILLE, ON, Nov. 12, 2020 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) (NYSE: AQN) announced today that the Board of Directors has declared a dividend of U.S. $0.1551 per share on its common shares, payable on January 15, 2021, to the shareholders of record on December 31, 2020, for the period from October 1, 2020 to December 31, 2020.  Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2019.

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 common shares ("Plan Shares") of APUC as per the Plan.  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.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies its common 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 AST Trust Company (Canada) 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 daily average exchange rate on the day before the declaration date.

About Algonquin Power & Utilities Corp., Liberty Utilities, and Liberty Power

APUC is a diversified international generation, transmission, and distribution utility with approximately $11 billion of total assets. Through its two business groups, Liberty Utilities and Liberty Power, APUC is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over 1 million customer connections, largely in the United States and Canada.  APUC is a global leader in renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities representing over 2 GW of installed capacity and approximately 1.4 GW of incremental renewable energy capacity under construction.

APUC is committed to delivering growth and the pursuit of operational excellence in a sustainable manner through an expanding global pipeline of renewable energy and electric transmission development projects, organic growth within its rate-regulated generation, distribution, and transmission businesses, and the pursuit of accretive acquisitions.

APUC's common shares, Series A preferred shares, and Series D preferred shares are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. APUC's common shares, Series 2018-A subordinated notes and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN, AQNA and AQNB, respectively.

Visit APUC at www.algonquinpowerandutilities.com and follow us on Twitter @AQN_Utilities.

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SOURCE Algonquin Power & Utilities Corp.

FAQ

What is the dividend amount declared by Algonquin Power & Utilities Corp. (AQN)?

The declared dividend amount is U.S. $0.1551 per common share.

When is the dividend for AQN payable?

The dividend is payable on January 15, 2021.

What is the record date for the dividend payment by AQN?

The record date to receive the dividend is December 31, 2020.

Can shareholders receive the AQN dividend in Canadian dollars?

Yes, shareholders can elect to receive the dividend in Canadian dollars at a rate of C$0.2019.

Does the AQN dividend qualify as an eligible dividend under Canadian tax law?

Yes, the declared dividend qualifies as an eligible dividend under the Income Tax Act in Canada.