OAKVILLE, ON, May 9, 2019 /CNW/ - Algonquin Power &
Utilities Corp. ("APUC") (TSX/NYSE: AQN) announced today that the
Board of Directors of APUC approved a dividend increase of U.S.
$0.0512 annually per common share to
a total dividend of U.S. $0.5640 per
common share, paid quarterly at a rate of U.S. $0.1410 per common share.
APUC also announced today that the Board has declared a dividend
of U.S. $0.1410 per share on its
common shares, payable on July 15,
2019 to the shareholders of record on June 28, 2019 for the period from April 1, 2019 to June
30, 2019. Shareholders receiving dividends in cash can
elect to receive the dividend in Canadian dollars in the amount of
C$0.1899.
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
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 generation, transmission and distribution
utility with approximately $9.7
billion of total assets. Through its two business groups,
APUC provides rate-regulated natural gas, water, and electricity
generation, transmission, and distribution utility services to
approximately 770,000 connections in the
United States, and is committed to being a global leader in
the generation of clean energy through ownership of or investments
in long‐term contracted wind, solar and hydroelectric generating
facilities representing over 2 GW of installed capacity. APUC
delivers continuing growth through an expanding pipeline of
renewable energy, electric transmission, and water infrastructure
development projects with a global focus, 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. APUC's common shares and Series 2018-A
subordinated notes are also listed on the New York Stock Exchange
under the symbols AQN and AQNA.
Visit APUC at www.algonquinpowerandutilities.com and follow us
on Twitter @AQN_Utilities.
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SOURCE Algonquin Power & Utilities Corp.