|By Marketwired .||
|May 15, 2014 10:07 AM EDT||
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 05/15/14 -- 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, 2014, be and is hereby declared payable August 1st, 2014 to the Series A First Preference Shareholders of record at the close of business July 18th, 2014; 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, 2014, be and is hereby declared payable August 1st, 2014 to the Series B First Preference Shareholders of record at the close of business July 18th, 2014; 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, 2014, be and is hereby declared payable September 3rd, 2014 to the Series D First Preference Shareholders of record at the close of business August 15th, 2014; 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, 2014, be and is hereby declared payable July 2nd, 2014 to the Series G First Preference Shareholders of record at the close of business June 13th, 2014; and, 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).
All the common shares of Newfoundland Power Inc. are owned by Fortis Inc. (TSX:FTS), the largest investor-owned gas and electric distribution utility in Canada. The regulated utilities of Fortis account for 90% of total assets and serve approximately 2.5 million customers across Canada and in New York State and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada. Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.
With a customer base of over 256,000 accounts, Newfoundland Power Inc. is committed to safety and dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit www.newfoundlandpower.com.
Ms. Jocelyn Perry
Vice President, Finance & Chief Financial Officer
Newfoundland Power Inc.
Office: (709) 737-2812
(709) 737-5300 (FAX)
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