Capital Power announces a 6% dividend increase for its common shares and declares dividends for its Preference shares

EDMONTON, Alberta, Aug. 02, 2022 (GLOBE NEWSWIRE) — The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.58 per share on the outstanding common shares for the quarter ending September 30, 2022. The dividend is payable on October 31, 2022 to shareholders of record at the close of business on September 30, 2022. The quarterly dividend of $0.58 per common share compared to the previous $0.5475 dividend represents a 6% increase, and an annualized dividend of $2.32 per common share.

The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares:

Shares TSX Stock Symbol Dividend Per Share Record Date Payment Date
Series 1 CPX.PR.A $0.1638125 September 19, 2022 September 30, 2022
Series 3 CPX.PR.C $0.3408125 September 19, 2022 September 30, 2022
Series 5 CPX.PR.E $0.327375 September 19, 2022 September 30, 2022
Series 9 CPX.PR.I $0.359375 September 19, 2022 September 30, 2022
Series 11 CPX.PR.K $0.359375 September 19, 2022 September 30, 2022
         

The dividends for the common shares and preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own, and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns approximately 6,600 MW of power generation capacity at 27 facilities across North America. Projects in advanced development include approximately 385 MW of owned renewable generation capacity in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.

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