Newfoundland Power Inc.

Newfoundland Power Inc.

February 09, 2015 14:43 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Feb. 9, 2015) - 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, 2015, be and is hereby declared payable May 1st, 2015 to the series A first preference shareholders of record at the close of business on April 17th, 2015;

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, 2015, be and is hereby declared payable May 1st, 2015 to the series B first preference shareholders of record at the close of business on April 17th, 2015;

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, 2015, be and is hereby declared payable June 1st, 2015 to the series D first preference shareholders of record at the close of business on May 15th, 2015;

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, 2015, be and is hereby declared payable April 1st, 2015 to the series G first preference shareholders of record at the close of business on March 13th, 2015; 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. (TSX:FTS), a leader in the North American electric and gas utility business, with total assets of more than $25 billion and fiscal 2013 revenue exceeding $4 billion. Its regulated utilities account for approximately 93% of total assets and serve more than 3 million customers across Canada and in the United States 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 Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of approximately 259,000 accounts, 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

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