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Capital Power provides notice of Preferred Shares (Series 1) conversion privilege and dividend rate notice
EDMONTON, Alberta, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital P...
About this update from Capital Power Corporation
[{"type":"text","content":"Capital Power provides notice of Preferred Shares (Series 1) conversion privilege and dividend rate notice\n\n\n\n EDMONTON, Alberta, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital Power”) (TSX: CPX) announced today that it has notified registered shareholders of its Cumulative Rate Reset Preference Shares, Series 1 (the “Series 1 Shares”) (TSX: CPX.PR.A) of the conversion privilege and dividend rate applicable to the Series 1 Shares.\n \n\n Subject to certain conditions, beginning on December 1, 2025 and ending at 5:00 p.m. (Toronto time) on December 16, 2025 (the “Election Period”), each registered holder of Series 1 Shares will have the right to elect to convert any or all of their Series 1 Shares into an equal number of Cumulative Floating Rate Preference Shares, Series 2 (the “Series 2 Shares”) by delivering a completed election notice (an “Election Notice”) to the Corporation.\n \n\n If Capital Power does not receive an Election Notice from a holder of Series 1 Shares during the Election Period, then such holder will be deemed not to have exercised its right to convert (except in the case of an Automatic Conversion, as described below). Holders of the Series 1 Shares and the Series 2 Shares will have the opportunity to convert their shares again on December 31, 2030, and every five years thereafter as long as such shares remain outstanding.\n \n\n On December 1, 2025, the annual fixed dividend rate for the Series 1 Shares was set for the next five-year period (from and including December 31, 2025, to but excluding December 31, 2030) at 4.95800% and the floating quarterly dividend rate for the Series 2 Shares was set for the first quarterly floating rate period (being the period from and including December 31, 2025, to but excluding March 31, 2026) at 1.08197%. The floating quarterly dividend rate for the Series 2 Shares will be reset every quarter.\n \n\n The Series 1 Shares are issued in “book entry only” form and, as such, the sole registered holder of the Series 1 Shares is CDS Clearing and Depository Services Inc. (“CDS”). Accordingly, all rights of beneficial holders of Series 1 Shares must be exercised through CDS or the CDS participant through which the Series 1 Shares are held. The deadline for t...