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Atlantic Power Preferred Shares

Atlantic Power Preferred Equity Ltd. Preferred Shares
Available preferred share series:

  • Atlantic Power Preferred Equity Ltd. Stock Information, Series I
  • Atlantic Power Preferred Equity Ltd. Stock Information, Series II

4.85% Cumulative Redeemable Preferred Shares, Series I

Toronto Stock Exchange (TSX) ticker symbol: AZP.PR.A
Date of TSX Listing: May 24, 2007
Shares Outstanding: 5,000,000
CUSIP: 04878R101

Excerpt from Initial Public Offering (IPO) Announcement
On May 7, 2007, EPCOR Power L.P. (collectively with its subsidiaries, the "Partnership") announced that its subsidiary, EPCOR Power Equity Ltd. ("the Issuer" or the "Corporation") will issue 5,000,000 4.85% Cumulative Redeemable First Preference Shares, Series 1 (the "Series 1 Shares") at a price of $25.00 per Series 1 Share.

The Series 1 Shares will pay cumulative dividends of $1.2125 per share per annum, yielding 4.85% per annum, payable quarterly on the last business day of March, June, September and December of each year.

The Series 1 Shares will not be redeemable by the Issuer before June 30, 2012. On or after this date, the Series 1 Shares will be redeemable by the Issuer in whole or in part, at the Issuer's option, on at least 30 and not more than 60 days prior notice.

The Partnership will fully and unconditionally guarantee the payment of dividends, as and when declared, the amounts payable on a redemption of the Series 1 Shares for cash and the amounts payable in the event of the liquidation, dissolution and winding up of the Issuer.

The Series 1 Shares will be offered for sale by way of a short form prospectus of the Issuer and the Partnership in all provinces and territories of Canada. Only persons who are residents of Canada, or if partnerships are Canadian partnerships, in each case for purposes of the Income Tax Act (Canada), may purchase Series 1 Shares under the Offering.ing.

Summary

Issue Description Ticker Symbol Par Dividend per Share per Annum Dividend Payable Dates Key Terms
Series 1 Cumulative Redeemable AZP.PR.A $25.00 $1.2125 Last business day of March, June, September and December Not redeemable by the Issuer before June 30, 2012

 

Dividends Declared

Declaration Date

Record Date

Dividend Payment Date

Dividend Amount per Share

December 5, 2013

December 16, 2013

December 31, 2013

$0.303125

September 5, 2013

September 16, 2013

September 30, 2013

$0.303125

June 5, 2013

June 17, 2013

June 28, 2013

$0.303125

March 5, 2013

March 18, 2013

March 28, 2013

$0.303125

December 5, 2012

December 17, 2012

December 31, 2012

$0.303125

September 5, 2012

September 17, 2012

September 28, 2012

$0.303125

June 5, 2012

June 18, 2012

June 29, 2012

$0.303125

March 6, 2012

March 19, 2012

March 30, 2012

$0.303125

December 5, 2011

December 16, 2011

December 30, 2011

$0.303125

September 6, 2011

September 19, 2011

September 30, 2011

$0.303125

March 3, 2011

March 18, 2011

March 31, 2011

$0.303125

December 3, 2010

December 16, 2010

December 31, 2010

$0.303125

September 3, 2010

September 17, 2010

September 30, 2010

$0.303125

June 3, 2010

June 17, 2010

June 30, 2010

$0.303125

March 3, 2010

March 17, 2010

March 31, 2010

$0.303125

December 3, 2009

December 16, 2009

December 31, 2009

$0.303125

September 3, 2009

September 17, 2009

September 30, 2009

$0.303125

June 4, 2009

June 17, 2009

June 30, 2009

$0.303125

March 5, 2009

March 18, 2009

March 31, 2009

$0.303125

December 4, 2008

December 16, 2008

December 31, 2008

$0.303125

September 8, 2008

September 16, 2008

September 30, 2008

$0.303125

June 4, 2008

June 17, 2008

June 30, 2008

$0.303125

February 13, 2008

March 14, 2008

March 31, 2008

$0.303125

December 6, 2007

December 13, 2007

December 31, 2007

$0.303125

September 5, 2007

September 17, 2007

September 28, 2007

$0.423050

 

Additional Information:

7.0% Cumulative Rate Reset Preferred Shares, Series II

Toronto Stock Exchange (TSX) ticker symbol: AZP.PR.B
Date of TSX Listing: November 2, 2009
Shares Outstanding: 4,000,000
CUSIP: : 04878R200

Excerpt from Initial Public Offering (IPO) Announcement
On October 13, 2009, EPCOR Power L.P. (collectively with its subsidiaries, the "Partnership") announced that its subsidiary, EPCOR Power Equity Ltd. ("the Issuer" or the "Corporation") will issue 4,000,000 7.00% Cumulative Rate Reset Preference Shares, Series 2 (the "Series 2 Shares") at a price of $25.00 per Series 2 Share.

The Series 2 Shares will pay fixed cumulative dividends of $1.75 per share per annum, yielding 7.0% per annum, payable on the last business day of March, June, September and December of each year.

The holders of Series 2 Shares will have the right to convert their shares into Cumulative Floating Rate Preferred Shares, Series 3 (the "Series 3 Shares") of the Corporation, subject to certain conditions, on December 31, 2014 and on December 31 of every fifth year thereafter. The holders of Series 3 Shares will be entitled to receive quarterly floating rate cumulative dividends, as and when declared by the board of directors of the Corporation, at a rate equal to the sum of the then 90-day Government of Canada treasury bill rate and 4.18%.

The Partnership will fully and unconditionally guarantee the payment of dividends, as and when declared, the amounts payable on a redemption of the Series 2 Shares or Series 3 Shares for cash and the amounts payable in the event of the liquidation, dissolution and winding up of the Issuer.

The Series 2 Shares will be offered for sale by way of a short form prospectus of the Issuer in all provinces and territories of Canada. Only persons who are residents of Canada, or if partnerships are Canadian partnerships, in each case for purposes of the Income Tax Act (Canada), may purchase Series 2 Shares under the Offering.

 

Summary

Issue

Description

Ticker Symbol

Par

Dividend per Share per Annum

Dividend Payable Dates

Key Terms

Series 2

Cumulative Rate Reset

AZP.PR.B

$25.00

$1.75

Last business day of March, June, September and December

Holders will have right to convert into Cumulative Floating Rate Preferred Shares, Series 3 (the "series 3 Shares") of the corporation on December 31, 2014 and on December 31 of every fifth year thereafter.

 

Dividends Declared

Declaration Date

Record Date

Dividend Payment Date

Dividend Amount per Share

December 5, 2013

December 16, 2013

December 31, 2013

$0.437500

September 5, 2013

September 16, 2013

September 30, 2013

$0.437500

June 5, 2013

June 17, 2013

June 28th, 2013

$0.437500

March 5, 2013

March 18, 2013

March 28, 2013

$0.437500

December 5, 2012

December 17, 2012

December 31, 2012

$0.437500

September 5, 2012

September 17, 2012

September 28, 2012

$0.437500

June 5, 2012

June 18, 2012

June 29, 2012

$0.437500

March 6, 2012

March 19, 2012

March 30, 2012

$0.437500

December 5, 2011

December 16, 2011

December 30, 2011

$0.437500

September 6, 2011

September 19, 2011

September 30, 2011

$0.437500

March 3, 2011

March 18, 2011

March 31, 2011

$0.437500

December 3, 2010

December 16, 2010

December 31, 2010

$0.437500

September 3, 2010

September 17, 2010

September 30, 2010

$0.437500

June 3, 2010

June 17, 2010

June 30, 2010

$0.437500

March 3, 2010

March 17, 2010

March 31, 2010

$0.437500

December 3, 2009

December 16, 2009

December 31, 2009

$0.28288

Additional Information:

 

Background Information

Atlantic Power Preferred Equity Ltd. (formerly CPI Preferred Equity Ltd. and prior to that EPCOR Power Equity Ltd.) (the "Issuer" or the "Corporation") was incorporated under the laws of the Province of Alberta on June 26, 1998 and is a wholly owned subsidiary of Atlantic Power Limited Partnership (formerly Capital Power Income L.P. and prior to that EPCOR Power L.P.) (the "Partnership"). The Corporation operates as a holding company and indirectly holds all of the Partnership’s business and power generation and other assets in the United States and British Columbia.

Tax Information for Shareholders

Atlantic Power Preferred Equity Ltd. hereby designates all dividends paid or deemed to be paid on each of its Cumulative Redeemable Preferred Shares, Series 1 and Cumulative Rate Reset Preferred Shares, Series 2 as "eligible dividends" for purposes of subsection 89(14) of the Income Tax Act (Canada), and similar provincial and territorial legislation, unless indicated otherwise. 

U.S. individual or other non-corporate taxpayers should 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.

Taxpayers should always seek their own independent qualified professionals regarding the tax consequences of purchasing or owning preferred shares of Atlantic Power Preferred Equity Ltd.