Newfoundland Power Inc.

Newfoundland Power Inc.

July 29, 2014 11:46 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - July 29, 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 October 31st, 2014, be and is hereby declared payable October 31st, 2014 to the Series A First Preference Shareholders of Record at the close of business October 17th, 2014;
  1. 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 October 31st, 2013, be and is hereby declared payable October 31st, 2014 to the Series B First Preference Shareholders of Record at the close of business October 17th, 2014;
  1. 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 November 30th, 2014, be and is hereby declared payable December 2nd, 2014 to the Series D First Preference Shareholders of Record at the close of business November 14th, 2014;
  1. 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 September 30th, 2014, be and is hereby declared payable October 1st, 2014 to the Series G First Preference Shareholders of Record at the close of business September 12th, 2014; and,
  1. 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. (TSX:FTS), the largest investor-owned gas and electric distribution utility in Canada. The regulated utilities of Fortis account for 90% of total assets and serve approximately 2.5 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 investment is comprised of hotels and commercial real estate in Canada. Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of over 256,000 accounts, Newfoundland Power Inc. 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

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