OAKVILLE, ON, May 6, 2021 /PRNewswire/ - Algonquin Power
& Utilities Corp. ("AQN") (TSX: AQN) (TSX: AQN.PR.A) (TSX:
AQN.PR.D) (NYSE: AQN) announced today that the Board of Directors
has approved an annual dividend increase of U.S.$0.0620 per common share to a total annual
dividend of U.S.$0.6824 per common
share, paid quarterly at a rate of U.S.$0.1706 per common share.
AQN also announced today that the Board of Directors of AQN has
declared the following common and preferred share dividends:
- U.S.$0.1706 per Common Share,
payable on July 15, 2021, to the
shareholders of record on June 30,
2021, for the period from April 1,
2021 to June 30, 2021.
Shareholders receiving dividends in cash can elect to receive the
dividend in Canadian dollars in the amount of C$0.2094.
- C$0.32263 per Preferred Share,
Series A, payable in cash on June 30,
2021 to Preferred Share, Series A holders of record on
June 15, 2021, for the period from
March 31, 2021 to, but excluding,
June 30, 2021.
- C$0.31819 per Preferred Share,
Series D, payable in cash on June 30,
2021 to Preferred Share, Series D holders of record on
June 15, 2021, for the period from
March 31, 2021 to, but excluding,
June 30, 2021.
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
common shares ("Plan Shares") of AQN 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.
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.
Pursuant to the Income Tax Act (Canada) and corresponding provincial
legislation, AQN hereby notifies its Common Shareholders, Series A
Preferred Shareholders and its Series D Preferred Shareholders that
such dividends declared qualify as eligible dividends.
About Algonquin Power & Utilities Corp. and
Liberty
Algonquin Power & Utilities Corp., parent company of
Liberty, is a diversified international generation, transmission,
and distribution utility with approximately $15 billion of total assets. Through its two
business groups, the Regulated Services Group and the Renewable
Energy Group, AQN is committed to providing safe, secure, reliable,
cost-effective, and sustainable energy and water solutions through
its portfolio of electric generation, transmission, and
distribution utility investments to over one million customer
connections, largely in the United
States and Canada. AQN is a global leader in renewable
energy through its portfolio of long-term contracted wind, solar,
and hydroelectric generating facilities. AQN owns, operates, and/or
has net interests in over 3 GW of installed renewable generation
capacity.
AQN is committed to delivering growth and the pursuit of
operational excellence in a sustainable manner through an expanding
global pipeline of renewable energy and electric transmission
development projects, organic growth within its rate-regulated
generation, distribution, and transmission businesses, and the
pursuit of accretive acquisitions.
AQN'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. AQN'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 AQN at www.algonquinpowerandutilities.com and follow
us on Twitter @AQN_Utilities.
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SOURCE Algonquin Power & Utilities Corp.
