Algonquin Power & Utilities Corp. Declares Third Quarter 2020 Common Share Dividend of U.S. $0.1551 (C$0.2056)

Rhea-AI Summary

Algonquin Power & Utilities Corp. (AQN) announced a dividend of U.S. $0.1551 per share for the third quarter of 2020. This dividend is payable on October 15, 2020, to shareholders on record as of September 30, 2020, for the period from July 1 to September 30, 2020. Shareholders can opt for cash dividends in Canadian dollars at C$0.2056. APUC, a leader in renewable energy, manages approximately $11 billion in assets and serves about 807,000 connections in North America.

Positive

• Declared a dividend of U.S. $0.1551 per share, indicating ongoing shareholder returns.
• Strong asset base of approximately $11 billion enhances financial stability.
• Commitment to growth in renewable energy with over 2 GW of installed capacity.

Negative

• None.

OAKVILLE, ON, Aug. 13, 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 October 15, 2020, to the shareholders of record on September 30, 2020, for the period from July 1, 2020 to September 30, 2020.  Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2056.

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.

APUC is a diversified international generation, transmission, and distribution utility with approximately $11 billion of total assets. Through its two business groups, APUC is committed to providing secure, safe, reliable, cost-effective, and sustainable energy and water solutions through our portfolio of electric generation, transmission, and distribution utility investments to approximately 807,000 connections 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 1.6 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, electric transmission, and water infrastructure 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 AQN for Q3 2020?

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

When is the dividend payable for AQN?

The dividend is payable on October 15, 2020.

What is the record date for AQN's dividend?

The record date for the dividend is September 30, 2020.

Can AQN shareholders receive dividends in Canadian dollars?

Yes, shareholders can elect to receive the dividend in Canadian dollars at C$0.2056.

What is the significance of APUC's dividend declaration?

The dividend declaration reflects APUC's commitment to returning value to shareholders.