|By Marketwired .||
|January 9, 2014 06:24 PM EST||
CALGARY, ALBERTA -- (Marketwired) -- 01/09/14 -- The Board of Directors of Canadian Utilities Limited, an ATCO Company, today declared a first quarter dividend of 26.75 cents per Class A non-voting (TSX:CU) and Class B common share (TSX:CU.X), a 10% increase over the 24.25 cents paid in each of the four previous quarters. The dividend is payable March 1, 2014, to shareholders of record on February 6, 2014.
The Board also declared the following Cumulative Redeemable Second Preferred Share dividends:
TSX Stock Dividend Record Date Payment Date Shares Symbol Per Share ($) (2014) (2014) ---------------------------------------------------------------------------- Series Y 4.00% CU.PR.C 0.25000 06-Feb 01-Mar Series AA 4.90% CU.PR.D 0.30625 06-Feb 01-Mar Series BB 4.90% CU.PR.E 0.30625 06-Feb 01-Mar Series CC 4.50% CU.PR.F 0.28125 06-Feb 01-Mar Series DD 4.50% CU.PR.G 0.28125 06-Feb 01-Mar
These dividends are eligible dividends within the meaning of the Income Tax Act (Canada).
Canadian Utilities Limited has a Dividend Reinvestment Plan (DRIP) available to eligible holders of Class A non-voting shares and Class B common shares. Eligible shareholders may reinvest the cash dividends paid on their common shares to purchase new Class A non-voting shares from treasury at a two percent discount to the volume weighted average price as defined in the DRIP. For more information visit: www.canadianutilities.com or the CST Trust Company website at www.canstockta.com.
ATCO Ltd., as controlling shareholder of Canadian Utilities Limited, intends to participate in the DRIP to maintain its controlling interest in the company.
Canadian Utilities Limited, an ATCO company, with more than 7,100 employees and assets of approximately $15 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in utilities (pipelines, natural gas and electricity transmission and distribution), energy (power generation, natural gas gathering, processing, storage and liquids extraction) and technologies (business systems solutions).
B.R. (Brian) Bale
Senior Vice President & Chief Financial Officer
Canadian Utilities Limited
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