Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Capital Power Corporation (CPX) is redeeming all of its 6,000,000 preference shares, Series 9 (CPX.PR.I) on September 30, 2022
  • The company plans to redeem the shares for $25.00 per share for a total of $150 million
  • Capital Power’s Board of Directors had previously declared a quarterly dividend of $0.359375 per Series 9 share payable on September 30, 2022
  • Capital Power is a North American wholesale power producer with a strategic focus on sustainable energy with its headquarters in Edmonton, Alberta
  • Capital Power Corporation was down 0.257 per cent, trading at $50.50 at 12:28 PM ET

Capital Power Corporation (CPX) will redeem 6,000,000 5.75 per cent cumulative minimum rate reset preference shares, Series 9 on September 30.

The company plans to redeem the shares for $25.00 per share totalling $150 million, less any tax required to be deducted and withheld by the company.

Capital Power’s Board of Directors had previously declared a quarterly dividend of $0.359375 per Series 9 share payable on September 30, 2022 (the Q3 2022 quarterly dividend).

This will be the final quarterly dividend on the Series 9 shares, and as the redemption date is also a dividend payment date, the redemption price will not include the Q3 2022 quarterly dividend.

Instead, the Q3 2022 quarterly dividend will be paid on the redemption date separately to shareholders of record as of September 19, 2022.

The company has provided notice of the redemption price and the redemption date to the sole registered holder of the Series 9 Shares in accordance with their terms.

Non-registered holders of Series 9 shares should contact their broker or other intermediary for information regarding the redemption process for the Series 9 shares in which they hold a beneficial interest.

Capital Power is a North American wholesale power producer with a strategic focus on sustainable energy with its headquarters in Edmonton, Alberta.

Capital Power Corporation was down 0.257 per cent, trading at $50.50 at 12:28 PM ET.


More From The Market Herald
Exro Technologies Inc. - CEO, Sue Ozdemir.

" Exro (TSX:EXRO) signs five-year agreement with Inferno Solar Ltd.

Exro Technologies (EXRO) has signed a five-year development and distribution agreement with Inferno Solar Ltd.

" Permex Petroleum (CSE:OIL) commences drilling operations

Permex Petroleum Corporation (OIL) has started drilling on its Breedlove Field prospect in Martin County, Texas.

" Prospera (TSXV:PEI) sees substantial production increase

Oil and gas exploration company Prospera Energy (PEI) has announced an overall production increase of ten times its current rate.
First Hydrogen

" First Hydrogen (TSXV:FHYD) expands into the European Union

First Hydrogen (FHYD) is advancing its expansion strategy into the European Union.