Canadian Utilities Limited

Canadian Utilities Limited

April 13, 2007 17:23 ET

Canadian Utilities Limited Announces Redemption of Cumulative Redeemable Second Preferred Shares Series Q, R and S

CALGARY, ALBERTA--(CCNMatthews - April 13, 2007) - Canadian Utilities Limited announced today that it will redeem on May 18, 2007 all of its outstanding Cumulative Redeemable Second Preferred Shares Series Q, R and S at a price of $25.00 per share plus accrued and unpaid dividends per share, subject to the successful closing on April 18, 2007 of the CU Inc. issue of $115,000,000 4.60% Cumulative Redeemable Preferred Shares Series 1.

---------------------------------------- TSX Stock Dividend
Series Rate Outstanding Symbol Per Share ($)
Series Q 5.90% 2,277,675 CU.PR.T 0.3152
Series R 5.30% 2,146,730 CU.PR.V 0.2832
Series S 6.60% 635,700 CU.PR.D 0.3526

Canadian Utilities Limited is a Canadian based worldwide organization of companies with assets of approximately $7.0 billion and more than 6,000 employees, actively engaged in three main business divisions: Power Generation; Utilities (natural gas and electricity transmission and distribution) and Global Enterprises, with companies active in technology, logistics and energy services. More information about Canadian Utilities Limited can be found on its website

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.

The forward-looking statements contained in this news release represent the Corporations' expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Contact Information

  • Canadian Utilities Limited
    K.M. (Karen) Watson
    Senior Vice President & Chief Financial Officer
    (403) 292-7502