Atlantic Power Corporation and Atlantic Power Preferred Equity Ltd. Announce Dividend Rate Reset on Cumulative Rate Reset Preferred Shares, Series 2, and Conversion Rights
ATLANTIC POWER CORP (AT)
Last atlantic power corp earnings: 2/27 05:13 pm
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US:NYSE Investor Relations:
investors.atlanticpower.com
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Source: PR Newswire
DEDHAM, Mass., Nov. 14, 2019 /PRNewswire/ -- Atlantic Power Corporation ("Atlantic Power") and Atlantic Power Preferred Equity Ltd. ("Preferred Equity") announced today that, in accordance with Preferred Equity's Articles of Incorporation, as amended, the dividend rate on Preferred Equity's outstanding Cumulative Rate Reset Preferred Shares, Series 2 (the "Series 2 Shares"), will be reset on December 31, 2019. The new dividend rate for Series 2 Shares will be calculated on November 29, 2019, using a fixed dividend rate (the "Fixed Dividend Rate"), which will equal the sum of the Canadian Government five-year bond yield as of that date plus 4.18%.Such Fixed Dividend Rate will commence with the March 31, 2020 dividend payment to the holders of the Series 2 Shares and continue through the December 31, 2024 dividend payment to the holders of the Series 2 Shares, at which time such Fixed Dividend Rate will again be reset.The dividend rate for the Cumulative Floating Rate Preferred Shares,
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