Algonquin Power Announces Dividend Rates on Cumulative Rate Reset Preferred Shares

Source: www.gulfoilandgas.com 3/4/2024, Location: North America

Further to the news release of Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (NYSE: AQN) dated February 20, 2024, the Company announced today the applicable dividend rates, determined as of March 1, 2024, for its Cumulative Rate Reset Preferred Shares, Series D (the "Series D Preferred Shares") and Cumulative Floating Rate Preferred Shares, Series E (the "Series E Preferred Shares").

With respect to any Series D Preferred Shares that remain outstanding after April 1, 2024, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, if, as and when declared by the board of directors of the Company (the "Board"). The dividend rate for the 5-year period from and including March 31, 2024 to but excluding March 31, 2029 will be 6.853%, being equal to the 5-year Government of Canada bond yield determined as of March 1, 2024 plus 3.28%, in accordance with the terms of the Series D Preferred Shares.

With respect to any Series E Preferred Shares that may be issued on April 1, 2024, holders thereof will be entitled to receive quarterly floating rate cumulative preferential cash dividends, if, as and when declared by the Board. The dividend rate for the 3-month floating rate period from and including March 31, 2024 to but excluding June 30, 2024 will be 8.261%, being equal to the 3-month Government of Canada Treasury Bill yield determined as of March 1, 2024 plus 3.28%, calculated on the basis of the actual number of days in such quarterly period divided by 365, in accordance with the terms of the Series E Preferred Shares.

Beneficial owners of Series D Preferred Shares who wish to exercise their conversion right should communicate with their broker or other nominee to ensure their instructions are followed so that the registered holder of the Series D Preferred Shares can meet the deadline to exercise such conversion right, which is 5:00 p.m. (EST) on March 18, 2024.


Canada >>  1/6/2025 - PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF), announces that, in accordance with the terms of its share buyback...
Canada >>  1/6/2025 -  Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug"), is pleased to announce that, further to its press releases date...

China >>  1/6/2025 - China Natural Resources Inc. (NASDAQ: CHNR) (the "Company") announced that on January 3, 2025, the Company has been granted an additional 180-day peri...
United Kingdom >>  1/6/2025 - Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector, is pleased to announc...

United States >>  1/6/2025 - Hess Corporation (NYSE: HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 15th consecutive year a...
China >>  1/5/2025 - According to TrendForce’s latest “Development Trends of Solid-State Battery Market (2025)”, the Japanese government aims to achieve commercialization ...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.