ST. JOHN’S, Newfoundland, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Newfoundland Power Inc. has declared regular quarterly dividends on
its Series A, B, D and G First Preference Shares as follows:
- 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 30, 2019, be and is hereby declared payable May 1, 2019 to the series A first
preference shareholders of record at the close of business on April 12, 2019;
- 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 30, 2019, be and is hereby declared payable May 1, 2019 to the series B
first preference shareholders of record at the close of business on April 12, 2019;
- 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 31, 2019, be and is hereby declared payable June 3, 2019 to the series D
first preference shareholders of record at the close of business on May 17, 2019;
- 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 31, 2019, be and is hereby declared payable April 1, 2019 to the series G first
preference shareholders of record at the close of business on March 15, 2019; and,
- 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/NYSE:FTS), a leader in the North American
regulated electric and gas utility industry with total assets of approximately C$53 billion as at December 31, 2018. Fortis Inc.'s
8,800 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries. Fortis
shares are listed on the TSX and NYSE and trade under the symbol FTS.
Newfoundland Power is the primary distributer of electricity on the island portion of Newfoundland and Labrador, and
purchases 93% of its energy needs from Newfoundland and Labrador Hydro. With a customer base of approximately 268,000 accounts,
Newfoundland Power is committed to safety, dedicated to the highest level of customer service and delivers reliable electricity at
the lowest possible cost. For more information on Newfoundland Power’s programs, services and community partnerships, please visit
newfoundlandpower.com
For further information, please contact:
Ms. Paige London
Vice President, Finance & Chief Financial Officer
Newfoundland Power Inc.
Office: (709) 737-5409 / Fax: (709) 737-5300
