Newfoundland Power Inc.

Newfoundland Power Inc.

February 11, 2014 08:53 ET

Newfoundland Power Declares Dividends on Series A, B, D and G First Preference Shares

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Feb. 11, 2014) - Newfoundland Power Inc. has declared regular quarterly dividends on its Series A, B, D and G First Preference Shares as follows:

1. a dividend of $0.1375 per share on the issued and outstanding 5 1/2% cumulative redeemable first preference share series A of the Company for the quarter ending April 30th, 2014, be and is hereby declared payable May 1st, 2014 to the series A first preference shareholders of record at the close of business on April 11th, 2014;

2. a dividend of $0.13125 per share on the issued and outstanding 5 1/4% cumulative redeemable first preference share series B of the Company for the quarter ending April 30th, 2014, be and is hereby declared payable May 1st, 2014 to the series B first preference shareholders of record at the close of business on April 11th, 2014;

3. a dividend of $0.18125 per share on the issued and outstanding 7 1/4% cumulative redeemable first preference share series D of the Company for the quarter ending May 31st, 2014, be and is hereby declared payable June 3rd, 2014 to the series D first preference shareholders of record at the close of business on May 16th, 2014;

4. a dividend of $0.19 per share on the issued and outstanding 7.60% cumulative redeemable first preference share series G of the Company for the quarter ending March 31st, 2014, be and is hereby declared payable April 1st, 2014 to the series G first preference shareholders of record at the close of business on March 14th, 2014; and,

5. the dividends hereby declared payable be and are hereby designated as eligible dividends within the meaning of s.89(1) of the Income Tax Act (Canada).

All the common shares of Newfoundland Power Inc. are owned by Fortis Inc., the largest investor-owned gas and electric distribution utility in Canada. The regulated utilities of Fortis account for 90% of total assets and serve more than 2.4 million customers across Canada and in New York State and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investments are comprised of hotels and commercial real estate in Canada and petroleum supply operations in the Mid-Atlantic Region of the United States. Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of over 255,000, Newfoundland Power is committed to safety and dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit www.newfoundlandpower.com.

Contact Information

  • Newfoundland Power Inc.
    Ms. Jocelyn Perry
    Vice President, Finance & Chief Financial Officer
    (709) 737-2812
    (709) 737-5300 (FAX)
    www.newfoundlandpower.com