Newfoundland Power Inc.
TSX : FTS

Newfoundland Power Inc.

July 28, 2006 13:15 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - July 28, 2006) - Newfoundland Power Inc. (TSX:FTS) 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, 2006, be and it is hereby declared payable November 1st, 2006 to the Series A First Preference Shareholders of Record at the close of business October 13th, 2006;

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, 2006, be and it is hereby declared payable November 1st, 2006 to the Series B First Preference Shareholders of Record at the close of business October 13th, 2006;

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, 2006, be and it is hereby declared payable December 1st, 2006 to the Series D First Preference Shareholders of Record at the close of business November 17th, 2006; and,

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, 2006, be and it is hereby declared payable October 1st, 2006 to the Series G First Preference Shareholders of Record at the close of business September 15th, 2006.

With a customer base of over 227,000 accounts, Newfoundland Power is 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.

All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international electric utility holding company with assets exceeding $4.3 billion and annual revenues of more than $1.4 billion. The Common Shares, Series C First Preference Shares and Series E First Preference Shares of Fortis Inc. are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis Inc. information can be accessed at www.fortisinc.com.

Contact Information

  • Newfoundland Power Inc.
    Mr. Bob Meyers
    Treasurer
    (709) 737-5740
    (709) 737-5300 (FAX)