Algonquin Power & Utilities Corp. Declares Fourth Quarter 2020 Preferred Share Dividends

Rhea-AI Summary

Algonquin Power & Utilities Corp. (AQN) announced the declaration of preferred share dividends for Q4 2020. A dividend of C$0.32263 per Series A preferred share and C$0.31819 per Series D preferred share will be paid on December 31, 2020. Record holders as of December 15, 2020 will receive these dividends for the period ending December 31, 2020. The company emphasizes that these dividends qualify as eligible dividends under Canadian tax law. APUC continues to focus on sustainable energy solutions, with approximately $11 billion in total assets.

Positive

• Declared preferred share dividends of C$0.32263 and C$0.31819 for Series A and D respectively.
• Dividends payable on December 31, 2020, provide cash income for shareholders.
• APUC is recognized for its commitment to renewable energy with over 2 GW in installed capacity.

Negative

• None.

OAKVILLE, ON, Nov. 12, 2020 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that the Board of Directors of APUC has declared the following preferred share dividends:

1. C$0.32263 per Preferred Share, Series A, payable in cash on December 31, 2020 to Preferred Share, Series A holders of record on December 15, 2020, for the period from September 30, 2020 to, but excluding, December 31, 2020.
   
   
2. C$0.31819 per Preferred Share, Series D, payable in cash on December 31, 2020 to Preferred Share, Series D holders of record on December 15, 2020, for the period from September 30, 2020 to, but excluding, December 31, 2020.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies its Series A Preferred Shareholders and its Series D Preferred Shareholders that such dividends declared qualify as eligible dividends.

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 for Algonquin Power's Series A preferred shares?

The dividend for Series A preferred shares is C$0.32263.

When will Algonquin Power pay dividends for Series D preferred shares?

Dividends for Series D preferred shares will be paid on December 31, 2020.

What are the record dates for the preferred share dividends?

The record date for both Series A and Series D preferred shares is December 15, 2020.

Do the declared dividends qualify for tax benefits?

Yes, the declared dividends qualify as eligible dividends under the Income Tax Act in Canada.

How much total assets does Algonquin Power & Utilities have?

Algonquin Power & Utilities has approximately $11 billion in total assets.