Capital Power Corporation (Capital Power or the Company) (TSX: CPX) announced today that it has entered into an agreement to acquire 100% of the ownership interests in Arlington Valley, LLC, which owns the Arlington Valley facility (Arlington facility), a 580 megawatt (MW) combined cycle natural gas generation facility, from funds managed by Oaktree Capital Management, L.P. and its co-investors for a total of US$300 million, subject to working capital and other closing adjustments. The transaction is expected to close in the fourth quarter of 2018, subject to regulatory approvals and other customary closing conditions.

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The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.4475 per share on the outstanding common shares for the quarter ending September 30, 2018. The dividend is payable on October 31, 2018 to shareholders of record at the close of business on September 28, 2018. The quarterly dividend of $0.4475 per common share compared to the previous $0.4175 dividend represents a 7% increase, and an annualized dividend of $1.79 per common share.