ST. JOHN'S, NEWFOUNDLAND AND LABRADOR, May 7, 2010 (Marketwire) -- 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 July 31st, 2010, be and is hereby declared payable August 1st, 2010 to the Series A First Preference Shareholders of Record at the close of business July 16th, 2010;
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 July 31st, 2010, be and is hereby declared payable August 1st, 2010 to the Series B First Preference Shareholders of Record at the close of business July 16th, 2010;
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 August 31st, 2010, be and is hereby declared payable September 1st, 2010 to the Series D First Preference Shareholders of Record at the close of business August 13th, 2010; and
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 June 30th, 2010, be and is hereby declared payable July 1st, 2010 to the Series G First Preference Shareholders of Record at the close of business June 11th, 2010.
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).
All the common shares of Newfoundland Power Inc. are owned by Fortis Inc. (TSX:FTS), the largest investor-owned distribution utility in Canada, which serves approximately 2,100,000 gas and electricity customers, and has assets exceeding $12 billion. Its regulated holdings include electric distribution utilities in five Canadian provinces and three Caribbean countries and a natural gas utility in British Columbia. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upper New York State. It also owns hotels and commercial real estate across Canada. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.
With a customer base approaching 240,000 accounts, Newfoundland Power is committed to safety and dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit newfoundlandpower.com.
