Capital Power declares dividend for its Preference Shares (Series 11)
The Board of Directors for Capital Power Corporation (TSX:CPX.TO) (Capital Power) declared a dividend of $0.1772 per share on its Cumulative Minimum Rate Reset Preference Shares (Series 11) (TSX:CPX-PR-K.TO). This dividend is the initial quarterly dividend on the Series 11 shares and represents the time period from when the initial share offering closed on May 16, 2019 to June 30, 2019. Future quarterly dividends, if declared, will be $0.359375 per quarter or $1.4375 per annum for the initial five-year period ending June 30, 2024.
The dividend is payable on June 28, 2019 to shareholders of record at the close of business on June 17, 2019.
The dividends for the 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.TO) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, owns and operates power generation facilities using a variety of energy sources. Capital Power owns approximately 5,100 megawatts (MW) of power generation capacity at 25 facilities across North America. Approximately 900 MW of owned generation capacity is in advanced development in Alberta and Illinois.
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