Capital Power announces a 6% dividend increase for its common shares and declares dividends for its Preference shares
EDMONTON, Alberta, July 30, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for Capital Power Corporation (“Capital Power”) (TSX: CPX) declared a dividend of $0.6519 per share on the outstanding common shares for the quarter ending September 30, 2024. The dividend is payable on October 31, 2024 to shareholders of record at the close of business on September 30, 2024. The quarterly dividend of $0.6519 per common share compared to the previous $0.615 dividend represents a 6% increase, and an annualized dividend of $2.6076 per common share.
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 | $0.1638125 | September 16, 2024 | September 27, 2024 | |
| Series 3 | CPX.PR.C | $0.4287500 | September 16, 2024 | September 27, 2024 | |
| Series 5 | CPX.PR.E | $0.4144375 | September 16, 2024 | September 27, 2024 | |
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.
Territorial Acknowledgement
In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power’s head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented power producer committed to net zero by 2045, with approximately 9,300 MW of power generation at 32 facilities across North America. We prioritize delivering reliable and affordable power communities can depend on today, building clean power systems needed for tomorrow, and creating balanced solutions for our energy future. We are Powering Change by Changing PowerTM.
For more information, please contact:
| Media Relations: Katherine Perron (780) 392-5335 | Investor Relations: Roy Arthur (403) 736-3315 |
