Newfoundland Power Inc.
TSX : FTS

Newfoundland Power Inc.

May 12, 2009 14:28 ET

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

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - May 12, 2009) - 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, 2009, be and is hereby declared payable August 1st, 2009 to the Series A First Preference Shareholders of Record at the close of business July 17th, 2009;

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, 2009, be and is hereby declared payable August 1st, 2009 to the Series B First Preference Shareholders of Record at the close of business July 17th, 2009;

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, 2009, be and is hereby declared payable September 1st, 2009 to the Series D First Preference Shareholders of Record at the close of business August 14th, 2009; 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, 2009, be and is hereby declared payable July 1st, 2009 to the Series G First Preference Shareholders of Record at the close of business June 12th, 2009.

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 approximately 237,000 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 assets approaching $12 billion. 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
    Office: 709-737-2812
    709-737-5300 (FAX)