Newfoundland Power Inc.
TSX : FTS

Newfoundland Power Inc.

April 25, 2008 14:20 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 25, 2008) - 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 July 31st, 2008, be and is hereby declared payable August 1st, 2008 to the Series A First Preference Shareholders of Record at the close of business July 11th, 2008;

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 July 31st, 2008, be and is hereby declared payable August 1st, 2008 to the Series B First Preference Shareholders of Record at the close of business July 11th, 2008;

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 August 31st, 2008, be and is hereby declared payable September 1st, 2008 to the Series D First Preference Shareholders of Record at the close of business August 15th, 2008; 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 June 30th, 2008, be and is hereby declared payable July 1st, 2008 to the Series G First Preference Shareholders of Record at the close of business June 13th, 2008.

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).

With a customer base of over 233,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. All the common shares of Newfoundland Power are owned by Fortis Inc., the largest investor-owned distribution utility in Canada, which serves almost 2,000,000 gas and electric customers and has more than $10 billion of assets. For more information on Newfoundland Power's programs, services and community partnerships, please visit www.newfoundlandpower.com.

Contact Information

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