Newfoundland Power Inc.

Newfoundland Power Inc.

July 24, 2015 08:03 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - July 24, 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 October 31st, 2015, be and is hereby declared payable November 2nd, 2015 to the Series A First Preference Shareholders of Record at the close of business October 16th, 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 October 31st, 2015, be and is hereby declared payable November 2nd, 2015 to the Series B First Preference Shareholders of Record at the close of business October 16th, 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 November 30th, 2015, be and is hereby declared payable December 1st, 2015 to the Series D First Preference Shareholders of Record at the close of business November 13th, 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 September 30th, 2015, be and is hereby declared payable October 1st, 2015 to the Series G First Preference Shareholders of Record at the close of business September 11th, 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 approximately $28 billion and fiscal 2014 revenue of $5.4 billion. Its regulated utilities serve more than 3 million customers across Canada and in the United States and the Caribbean. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of approximately 260,000 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)
    www.newfoundlandpower.com