ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 3, 2009) - Newfoundland Power Inc. has declared regular quarterly dividends on its Series A, B, D and G First Preference Shares as follows:
1. a dividend of $0.1375 per share on the issued and outstanding 5 1/2% cumulative redeemable first preference share series A of the Company for the quarter ending April 30th, 2009, be and is hereby declared payable May 1st, 2009 to the series A first preference shareholders of record at the close of business on April 17th, 2009;
2. a dividend of $0.13125 per share on the issued and outstanding 5 1/4% cumulative redeemable first preference share series B of the Company for the quarter ending April 30th, 2009, be and is hereby declared payable May 1st, 2009 to the series B first preference shareholders of record at the close of business on April 17th, 2009;
3. a dividend of $0.18125 per share on the issued and outstanding 7 1/4% cumulative redeemable first preference share series D of the Company for the quarter ending May 31st, 2009, be and is hereby declared payable June 1st, 2009 to the series D first preference shareholders of record at the close of business on May 15th, 2009;
4. a dividend of $0.19 per share on the issued and outstanding 7.60% cumulative redeemable first preference share series G of the Company for the quarter ending March 31st, 2009, be and is hereby declared payable April 1st, 2009 to the series G first preference shareholders of record at the close of business on March 13th, 2009; and,
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 approximately 236,000 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)
