Newfoundland Power Inc.
TSX : FTS

Newfoundland Power Inc.

October 27, 2006 08:55 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Oct. 27, 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 Shares Series A of the Company for the quarter ending January 31st, 2007, be and it is hereby declared payable February 1st, 2007 to the Series A First Preference Shareholders of Record at the close of business January 12th, 2007;

2. a dividend of $0.13125 per share on the issued and outstanding 5 1/4% Cumulative Redeemable First Preference Shares Series B of the Company for the quarter ending January 31st, 2007, be and it is hereby declared payable February 1st, 2007 to the Series B First Preference Shareholders of Record at the close of business January 12th, 2007;

3. a dividend of $0.18125 per share on the issued and outstanding 7 1/4% Cumulative Redeemable First Preference Shares Series D of the Company for the quarter ending February 28th, 2007, be and it is hereby declared payable March 1st, 2007 to the Series D First Preference Shareholders of Record at the close of business February 9th, 2007; and,

4. a dividend of $0.19 per share on the issued and outstanding 7.60% Cumulative Redeemable First Preference Shares Series G of the Company for the quarter ending December 31st, 2006, be and it is hereby declared payable January 1st, 2007 to the Series G First Preference Shareholders of Record at the close of business December 15th, 2006.

With a customer base of over 228,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability in the most cost-efficient manner possible. Newfoundland Power is also leading the charge on energy efficiency in this province with BrightIdeasTM, an energy efficiency program aimed at helping customers save energy and money. For more information on Newfoundland Power's programs and services, 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 approaching $4.5 billion and annual revenues of more than $1.4 billion. The Common Shares, First Preference Shares, Series C, First Preference Shares, Series E and First Preference Shares, Series F of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E and FTS.PR.F, respectively. Fortis information can be accessed at www.fortisinc.com.

Contact Information

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