ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 24, 2008) - Newfoundland Power Inc. has declared regular quarterly dividends on its Series A, B, D and G First Preference Shares as follows:
1. dividend of $0.1375 per share on the issued and outstanding 5 1/2% Cumulative Redeemable First Preference Shares Series A of the Company for the quarter ending January 31st, 2009, be and it is hereby declared payable February 1st, 2009 to the Series A First Preference Shareholders of Record at the close of business January 16th, 2009;
2.a dividend of $0.13125 per share on the issued and outstanding 5 1/4% Cumulative Redeemable First Preference Shares Series B of the Company for the quarter ending January 31st, 2009, be and it is hereby declared payable February 1st, 2009 to the Series B First Preference Shareholders of Record at the close of business January 16th, 2009;
3.a dividend of $0.18125 per share on the issued and outstanding 7 1/4% Cumulative Redeemable First Preference Shares Series D of the Company for the quarter ending February 28th, 2009, be and it is hereby declared payable March 1st, 2009 to the Series D First Preference Shareholders of Record at the close of business February 13th, 2009; and,
4.a dividend of $0.19 per share on the issued and outstanding 7.60% Cumulative Redeemable First Preference Shares Series G of the Company for the quarter ending December 31st, 2008 be and it is hereby declared payable January 1st, 2009 to the Series G First Preference Shareholders of Record at the close of business December 12th, 2008.
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).
With a customer base of over 233,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. All the common shares of Newfoundland Power are owned by Fortis Inc., the largest investor-owned distribution utility in Canada, which serves almost 2,000,000 gas and electric customers and has more than $10 billion of assets. For more information on Newfoundland Power's programs, services and community partnerships, please visit www.newfoundlandpower.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newfoundland Power Inc.
Ms. Jocelyn Perry
Vice President, Finance & Chief Financial Officer
709-737-2812
709-737-5300 (FAX)
