Do you pay monthly dividends? How much each month?
We pay quarterly dividends at an annual rate of Cdn$0.12 per share, or Cdn$0.03 per quarter.
How much do I get paid as a U.S. investor, if I get paid in U.S. dollars?
The U.S. dollar amount of the dividend will fluctuate monthly due to fluctuations in foreign exchange rates. You should talk to your broker to determine how and when they select the applicable exchange rate and tax withholding.
What is Atlantic Power's ticker symbol?
On the Toronto Stock Exchange, the ticker symbol is ATP. On the New York Stock Exchange, the ticker symbol is AT.
Why haven't I received my dividend payment yet? Who do I contact to make it right?
Our dividends are paid on the last business day of each fiscal quarter to holders of record the previous month. The ex-dividend date is three full business days prior to the record date. If you bought shares before the ex-dividend date and did not receive a dividend shortly after the last business day of the quarter, please contact your broker.
How is Atlantic Power affected by a declining U.S. dollar?
Atlantic Power generates income in U.S. and Canadian dollars, but the Company pays dividends to shareholders and interest on corporate level long-term debt, and all but one of the Company's convertible debentures, predominantly in Canadian dollars. The Company has a hedging strategy in place to mitigate the currency risk impact on any future payments to shareholders, and from time to time we execute this strategy by utilizing cash flows from our projects that generate Canadian dollars and by entering into foreign exchange forward contracts to purchase Canadian dollars.
Do you have a Dividend Reinvestment Program or DRIP?
Yes we do. You can find information here.
Does Atlantic Power provide a K-1 or does my broker need to give me a 1099?
Atlantic Power does not provide any tax documents to our investors. You will need to contact your broker for a 1099 to file with your personal income tax return, if you are a U.S. investor, or a T-slip if you are a Canadian investor.
What exchange rate does Atlantic Power use to determine the dividend payment to a U.S. investor?
Atlantic Power is not involved in the exchange of the dividend into U.S. dollars. Your broker determines the exchange rate, and you should speak with him or her to determine how the exchange rate is selected.
Can I purchase shares directly from Atlantic Power?
No, we do not sell our shares directly.
Are Atlantic Power Corporation's dividends qualified for tax purposes?
Atlantic Power does believe that its dividends meet the Equity Test, the E&P Test, the Treaty Test and the Foreign Investment Company Exclusion Test set forth in IRS Notice 2003-79 (as extended by IRS Notice 2006-3). Therefore, and based on advice from our U.S. tax advisors, we state on our website that we believe our dividends generally should qualify for the reduced tax rate. However, there are certain shareholder-level requirements, including a minimum holding period, that must also be satisifed in order for any particular taxpayer to claim the reduced rate of tax on our (and any other U.S. or non-U.S. company's) dividends. It is up to the brokerage and the individual shareholder, together with their professional tax advisor, to determine whether these additional requirements have been met.
As described in the IRS Notices, there is not yet a clear procedure by which brokerage firms may determine in all cases whether a dividend from a foreign corporation is a qualified dividend, and to avoid any potential risk to them, brokerage firms may err on the side of reporting dividends from foreign corporations as non-qualifying. Please also note that Notice 2003-79 indicates that "a recipient of Form 1099-DIV may treat a dividend excluded from Box Ib as a qualified dividend if such person believes the dividend is a qualified dividend, subject to applicable penalties in the event the amount so reported is not in fact a qualified dividend." You may want to discuss this with your tax advisor.
Please note that it is not possible for Atlantic Power to know your individual tax circumstances and we cannot provide income tax advice. You should consult with a tax professional before making any conclusions about how to report our dividends on your tax return.