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

Rhea-AI Summary

Algonquin Power & Utilities Corp. (AQN) announced preferred share dividends for Q3 2020. Series A shareholders will receive C$0.32263 and Series D shareholders C$0.31819, both payable on September 30, 2020, to shareholders on record as of September 15, 2020. These dividends qualify as eligible dividends under Canadian tax laws. APUC, with assets of approximately $11 billion, operates in energy and water solutions, serving around 807,000 connections in the U.S. and Canada, and is recognized for its renewable energy initiatives.

Positive

• Declared preferred share dividends for Series A and D, providing income to shareholders.
• Dividends qualify as eligible, enhancing their attractiveness.
• APUC is a leader in renewable energy with significant assets of approximately $11 billion.
• Company's commitment to sustainable energy growth and operational excellence.

Negative

• None.

OAKVILLE, ON, Aug. 13, 2020 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) (NYSE: AQNA) (NYSE: AQNB) 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 September 30, 2020 to Preferred Share, Series A holders of record on September 15, 2020, for the period from June 30, 2020 to, but excluding, September 30, 2020.
2. C$0.31819 per Preferred Share, Series D, payable in cash on September 30, 2020 to Preferred Share, Series D holders of record on September 15, 2020, for the period from June 30, 2020 to, but excluding, September 30, 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.

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 are the Q3 2020 dividends for Algonquin Power & Utilities (AQN)?

The Q3 2020 dividends are C$0.32263 for Series A and C$0.31819 for Series D.

When will the preferred share dividends for AQN be paid?

The dividends will be paid on September 30, 2020.

What is the record date for the preferred dividends from APUC?

The record date for the preferred dividends is September 15, 2020.

Do the preferred share dividends from APUC qualify as eligible dividends?

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

What is the total asset value of Algonquin Power & Utilities Corp.?

APUC has total assets worth approximately $11 billion.