Capital Power Boosts Dividend by 6%, Engaging Stakeholders
Dividend Increase Announcement from Capital Power
Capital Power Corporation (TSX: CPX) has recently made a significant announcement that is bound to excite its shareholders. The Board of Directors declared an increase in the dividend for the outstanding common shares, setting it at $0.6910 per share for the quarter ending September 30 of this year. This marks a commendable 6% rise from the previous dividend rate of $0.6519, representing an annualized payout of $2.764 per common share. This increase is a testament to the company’s commitment to delivering value to its shareholders and reflects its ongoing growth trajectory.
Details on Shareholder Benefits
The declared dividend is scheduled for payment on October 31 to all shareholders who are on record by the end of business on September 29. This structured payout not only underscores Capital Power's stability but also highlights the trust they place in their operational strategy and financial performance. By enhancing your investment with such dividends, Capital Power continues to foster a strong relationship with its stakeholders.
Preference Shares Dividend Announcement
In tandem with the announcement of the common shares' dividend, the Board also declared dividends for its Cumulative Rate Reset Preference Shares, which include several series:
- Series 1 (CPX.PR.A): $0.1638125, with a record date of September 16 and payment on September 29.
- Series 3 (CPX.PR.C): $0.4287500, with the same record and payment dates.
- Series 5 (CPX.PR.E):$0.4144375, also aligning with the previous dates for payout.
These dividends not only offer a secure investment outlet but also come with 100% eligibility as dividends under the Income Tax Act, providing added incentives for Canadian residents through potential enhanced tax credits.
Capital Power’s Commitment to Reconciliation
In a broader context, Capital Power has taken a step further by embracing a commitment to acknowledgment and reconciliation with Indigenous Peoples. The company operates within the traditional territories of multiple Indigenous communities and recognizes the cultural significance of these ancestral lands. This recognition is pivotal as it aligns with their corporate values, fostering inclusivity and respect within the communities they serve.
Sustainable Growth and Future Directions
As a prominent power producer in North America, Capital Power (TSX: CPX) boasts a generation capacity of around 12 GW across 32 facilities. They are not simply focused on financial returns; rather, they are engaged in building a sustainable energy future. Their mission—"Powering Change by Changing Power™"—highlights their commitment to creating a balanced energy ecosystem that supports sustainability while meeting growing demands.
Connecting with Capital Power
For those interested in understanding more about Capital Power’s initiatives, they encourage direct engagement with their communications team. Katherine Perron leads the media relations efforts, and individuals can reach her at (780) 392-5335 or via email. For investor inquiries, Roy Arthur is available at (403) 736-3315. Investments and stakeholder relationships are crucial for their growth and longevity, so Capital Power remains accessible.
Frequently Asked Questions
What is the new dividend amount declared by Capital Power?
The new dividend amount declared for common shares is $0.6910, representing a 6% increase.
When will the dividends be paid out?
The dividends for common shares are scheduled to be paid on October 31 to shareholders on record as of September 29.
Are the dividends eligible for tax credits?
Yes, the dividends declared are 100% eligible as defined by the Income Tax Act, allowing for potential tax credits for eligible Canadian residents.
Which preference shares had dividends declared?
Dividends were declared for Series 1 (CPX.PR.A), Series 3 (CPX.PR.C), and Series 5 (CPX.PR.E) preference shares.
How does Capital Power support reconciliation with Indigenous Peoples?
Capital Power acknowledges that it operates within the ancestral homelands of various Indigenous Peoples and respects their traditions and rights, aiming to foster relationships within these communities.
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