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Algonquin Power & Utilities Corp. Announces Dividend Rates on Cumulative Rate Reset Preferred Shares, Series D, and Cumulative Floating Rate Preferred Shares, Series E
Algonquin Power & Utilities Corp. Announces Dividend Rates on Cumulative Rate Reset Preferred...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n \n \n \n Algonquin Power & Utilities Corp. Announces Dividend Rates on Cumulative Rate Reset Preferred Shares, Series D, and Cumulative Floating Rate Preferred Shares, Series E\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Algonquin Power & Utilities Corp. Announces Dividend Rates on Cumulative Rate Reset Preferred Shares, Series D, and Cumulative Floating Rate Preferred Shares, Series E\n \n \n Canada NewsWire\n \n \n \n \n \n \n OAKVILLE, ON\n \n \n ,\n \n \n March 4, 2024\n \n \n /CNW/ - Further to the news release of Algonquin Power & Utilities Corp. (\"AQN\" or the \"Company\") (TSX: AQN) (NYSE: AQN) dated\n \n February 20, 2024\n \n , the Company announced today the applicable dividend rates, determined as of\n \n March 1, 2024\n \n , 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\").\n \n \n \n \n \n \n \n \n \n With respect to any Series D Preferred Shares that remain outstanding after\n \n April 1, 2024\n \n , 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\n \n March 31, 2024\n \n to but excluding\n \n March 31, 2029\n \n will be 6.853%, being equal to the 5-year Government of\n \n Canada\n \n bond yield determined as of\n \n March 1, 2024\n \n plus 3.28%, in accordance with the terms of the Series D Preferred Shares.\n \n \n With respect to any Series E Preferred Shares that may be issued on\n \n April 1, 2024\n \n , 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\n \n March 31, 2024\n \n to but excluding\n \n June 30, 2024\n \n will be 8.261%, being equal to the 3-month Government of Canada Treasury Bill yield determined as of\n \n March 1, ...