The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Capital Power Declares Dividends for Its Common and Cumulative Rate Reset Preference Shares and Announces a 7.9% Dividend Increase for Its Common Shares

Friday, July 25, 2014

Capital Power Declares Dividends for Its Common and Cumulative Rate Reset Preference Shares and Announces a 7.9% Dividend Increase for Its Common Shares

16:00 EDT Friday, July 25, 2014

EDMONTON, ALBERTA--(Marketwired - July 25, 2014) - The Board of Directors for Capital Power Corporation (TSX:CPX) (Capital Power) declared a dividend of $0.34 per share on the outstanding common shares for the quarter ending September 30, 2014. The dividend is payable on October 31, 2014 to shareholders of record at the close of business on September 30, 2014. The quarterly dividend of $0.34 per common share compared to the previous $0.315 dividend represents a 7.9% increase, and an annualized dividend of $1.36 per common share.

Capital Power also announced changes to its Dividend Reinvestment Plan (DRIP). Under the DRIP, eligible common shareholders were allowed to purchase additional common shares of Capital Power at a 5% discount to the average market price by reinvesting their dividends. The discount rate will be reduced to 3% effective with the third quarter 2014 dividend.

The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares:

Shares TSX Stock Symbol Dividend Per Share Record Date Payment Date
Series 1 CPX.PR.A $ 0.2875 September 17, 2014 September 30, 2014
Series 3 CPX.PR.C $ 0.2875 September 17, 2014 September 30, 2014
Series 5 CPX.PR.E $ 0.28125 September 17, 2014 September 30, 2014

The dividends for the common shares and preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.

About Capital Power

Capital Power (TSX:CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 2,600 megawatts of power generation capacity at 14 facilities across North America and owns 371 megawatts of capacity through a power purchase agreement. An additional 490 megawatts of owned generation capacity is under construction in Alberta and Ontario.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Capital Power Corporation
Media inquiries
Michael Sheehan
(780) 392-5222


Capital Power Corporation
Investor inquiries
Randy Mah
(780) 392-5305 or (866) 896-4636

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections