OAKVILLE, Aug. 11, 2016 /CNW/ - Algonquin Power & Utilities
Corp. ("APUC" or the "Company") (TSX: AQN, AQN.PR.A, AQN.PR.D, AQN.IR) announced today that the Board of Directors of APUC (the
"Board") has declared a dividend of U.S. $0.1059 per share on its common shares, payable on
October 14, 2016 to the shareholders of record on September 30, 2016
for the period from July 1, 2016 to September 30, 2016. Shareholders
can elect to receive the dividend in the amount of Cdn. $0.1377.
The common share dividend will be paid in cash or, if a shareholder has enrolled in the shareholder dividend reinvestment plan
(the "Plan"), dividends will be reinvested in additional shares ("Plan Shares") of APUC as per the Plan, based on equivalent
Canadian funds. Plan Shares will be acquired by way of a Treasury Purchase at the average market price as defined in the Plan less
a 5% discount for the third quarter of 2016.
Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC
hereby notifies its common shareholders, that such dividends declared qualify as eligible dividends.
The quarterly dividends payable on common shares are declared in U.S. dollars. Beneficial shareholders (those who hold common
shares through a financial intermediary) who are resident in Canada or the United States may request to receive their dividends in either U.S. dollars or the Canadian dollar
equivalent by contacting the financial intermediary with whom the common shares are held. Unless the Canadian dollar equivalent is
requested, shareholders will receive dividends in U.S. dollars, which, as is often the case, the financial intermediary may convert
to Canadian dollars. Registered shareholders receive dividend payments in the currency of residency. Registered shareholders may
opt to change the payment currency by contacting CST Trust Company at 1-800-387-0825 prior to the record date of the dividend.
The Canadian dollar equivalent of the quarterly dividend is based on the Bank of Canada noon
exchange rate on the declaration date.
About Algonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp. is a $5.0 billion North American diversified generation,
transmission and distribution utility. The Distribution Group provides rate regulated water, electricity and natural gas utility
services to over 560,000 customers in the United States. The Generation Group owns a portfolio of
North American based contracted wind, solar, hydroelectric and natural gas powered generating facilities representing more than
1,300 MW of installed capacity. The Transmission Group invests in rate regulated electric transmission and natural gas pipeline
systems in the United States and Canada. Algonquin Power &
Utilities delivers continuing growth through an expanding pipeline of renewable energy development projects, organic growth within
its regulated distribution and transmission businesses, and the pursuit of accretive acquisitions. Common shares, preferred shares,
and instalment receipts are traded on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, AQN.PR.D, and AQN.IR. Visit
Algonquin Power & Utilities at www.AlgonquinPowerandUtilities.com and follow us on Twitter @AQN_Utilities.
SOURCE Algonquin Power & Utilities Corp.