- 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.
