Atlantic Power Corporation Announces March 2013 Common Share Dividend
BOSTON, March 15, 2013 /CNW/ - Atlantic Power Corporation (TSX: ATP) (NYSE:
AT) (the "Company" or "Atlantic Power") today announced its distribution for
the month of March 2013. A dividend of Cdn$0.03333 per common share will be
payable on April 30, 2013 to holders of record at the close of business on
March 28, 2013.
Tax Information for Shareholders
Atlantic Power Corporation designates its dividend to be an "eligible
dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its
equivalent in any provinces of Canada.
U.S. individual or other non-corporate taxpayers may be eligible for the
reduced rate of tax currently applicable to "qualified dividends" provided
that the investor meets the holding period and any other requirements.
The Company's common share dividend is subject to a 25% withholding tax rate
for holders that are not residents of Canada, which may be reduced pursuant to
an applicable tax treaty. The withholding tax rate is 15% for U.S.-resident
holders that qualify for the benefits of the Canada – U.S. Income Tax
Non-Canadian holders may be required by their brokers to complete a Form NR301
(or an equivalent form) in order to demonstrate their entitlement to a
treaty-reduced rate of withholding tax. U.S. and other non-Canadian holders
should consult their brokers about the requirement to provide such forms.
U.S. individuals holding shares in taxable accounts may be eligible to receive
a credit on their U.S. income tax return for this withholding tax. U.S.
individuals holding the Company's common shares in Individual Retirement
Accounts ("IRAs") may be exempt from withholding tax pursuant to the Canada
– U.S. Income Tax Convention.
Taxpayers should always seek their own independent qualified professionals
regarding the tax consequences of purchasing or owning common shares of the
Company. Individuals who believe the withholding tax exemption applies to
their IRA should contact their broker to determine how to claim the exemption.
About Atlantic Power
Atlantic Power owns and operates a diverse fleet of power generation and
infrastructure assets in the United States and Canada. Atlantic Power's power
generation projects sell electricity to utilities and other large commercial
customers largely under long-term PPAs, which seek to minimize exposure to
changes in commodity prices. Its power generation projects in operation have
an aggregate gross electric generation capacity of approximately 3,366 MW in
which its aggregate ownership interest is approximately 2,117 MW. These totals
exclude projects designated as held for sale at December 31, 2012 and its 40%
interest in the Delta-Person generating station for which Atlantic Power
entered into an agreement to sell in December 2012. On January 31, 2013,
Atlantic Power and certain of its subsidiaries entered into an agreement to
sell their interests in the Auburndale Power Partners, L.P., Lake CoGen, Ltd
and Pasco CoGen, Ltd. projects. On March 8, 2013, Atlantic Power entered into
a purchase and sale agreement to sell its 100% interest in its Path 15
transmission line. Its current portfolio of continuing operations consists of
interests in 29 operational power generation projects across 11 states in the
United States and two provinces in Canada. In addition, Atlantic Power has one
53 MW biomass project under construction in Georgia. Recently, Atlantic Power
acquired a wind and solar development company, Ridgeline Energy, Inc., located
in Seattle, Washington, which will enhance its ability to develop, construct,
and operate wind and solar energy projects across the United States and
Canada. Atlantic Power also owns a majority interest in Rollcast Energy, a
biomass power plant developer in North Carolina.
Atlantic Power has a market capitalization of approximately $650 million and
trades on the New York Stock Exchange under the symbol AT and on the Toronto
Stock Exchange under the symbol ATP. For more information, please visit the
Company's website at www.atlanticpower.com or contact:
Atlantic Power Corporation Amanda Wagemaker, Investor Relations (617)
Copies of financial data and other publicly filed documents are filed on SEDAR
at www.sedar.com or on EDGAR at www.sec.gov/edgar.shtml under "Atlantic Power
Corporation" or on the Company's website.
Cautionary Note Regarding Forward-looking Statements
To the extent any statements made in this news release contain information
that is not historical, these statements are forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and
Section 21E of the U.S. Securities Exchange Act of 1934, as amended and
forward-looking information as defined under Canadian securities law
(collectively, "forward-looking statements").
Certain statements in this news release may constitute "forward-looking
statements", which reflect the expectations of management regarding the future
growth, results of operations, performance and business prospects and
opportunities of the Company and its projects and other matters. These
statements, which are based on certain assumptions and describe the Company's
future plans, strategies and expectations, can generally be identified by the
use of the words "may," "will," "project," "continue," "believe," "intend,"
"anticipate," "expect" or similar expressions that are predictions of or
indicate future events or trends and which do not relate solely to present or
historical matters. Examples of such statements in this press release include,
but are not limited, to statements with respect to the expectations for the
achievement of commercial operation of Atlantic Power's biomass project under
construction in Georgia and its wind project under construction in Oklahoma.
Forward-looking statements involve significant risks and uncertainties, should
not be read as guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not or the times at or by
which such performance or results will be achieved. A number of factors could
cause actual results to differ materially from the results discussed in the
forward-looking statements, including, but not limited to, the factors
discussed under "Risk Factors" in the Company's periodic reports as filed with
the Securities and Exchange Commission and applicable securities regulatory
authorities in Canada from time to time. Although the forward-looking
statements contained in this news release are based upon what are believed to
be reasonable assumptions, investors cannot be assured that actual results
will be consistent with these forward-looking statements, and the differences
may be material. These forward-looking statements are made as of the date of
this news release and, except as expressly required by applicable law, the
Company assumes no obligation to update or revise them to reflect new events
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SOURCE: Atlantic Power Corporation
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CO: Atlantic Power Corporation
NI: UTI OIL DIV
-0- Mar/15/2013 16:49 GMT
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