Algonquin Power & Utilities Corp. Declares Third Quarter 2024 Common Share Dividend of U.S.$0.0650 (C$0.0893), and Declares Third Quarter 2024 Preferred Share Dividends

Rhea-AI Summary

Algonquin Power & Utilities Corp. (AQN) has declared its third quarter 2024 dividends for common and preferred shares. The company will pay US$0.0650 (C$0.0893) per common share on October 15, 2024, to shareholders of record on September 30, 2024. For preferred shares, AQN will distribute C$0.41100 per Series A share and C$0.42831 per Series D share on October 1, 2024, to holders of record on September 13, 2024. The dividends will be paid in cash, as AQN suspended its dividend reinvestment plan (DRIP) for common shares on March 16, 2023. Shareholders can request to receive dividends in either U.S. or Canadian dollars, with the Canadian equivalent based on the Bank of Canada's exchange rate one day before the declaration date.

Positive

• Consistent dividend payments for common and preferred shareholders
• Option for shareholders to receive dividends in U.S. or Canadian dollars

Negative

• Suspension of the dividend reinvestment plan (DRIP) for common shares

OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that the board of directors has declared the following common and preferred share dividends:

1. US$0.0650 per common share, payable on October 15, 2024, to the shareholders of record on September 30, 2024, for the period from July 1, 2024 to September 30, 2024.  Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0893.
2. C$0.41100 per preferred share, Series A, payable on October 1, 2024 to preferred share, Series A holders of record on September 13, 2024, for the period from June 30, 2024 to, but excluding, September 30, 2024.
3. C$0.42831 per preferred share, Series D, payable on October 1, 2024 to preferred share, Series D holders of record on September 13, 2024, for the period from June 30, 2024 to, but excluding, September 30, 2024.

Each of the foregoing dividends will be paid in cash. Effective March 16, 2023, AQN suspended the dividend reinvestment plan ("DRIP") for its common shares.  If AQN elects to reinstate the DRIP in the future, shareholders who were enrolled in the DRIP at its suspension and remain enrolled at reinstatement will automatically resume participation in the DRIP.

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, holders of common shares will receive dividends in U.S. dollars, which, as is often the case, the financial intermediary may convert to Canadian dollars. Registered holders of common shares receive dividend payments in the currency of residency. Registered holders of common shares may opt to change the payment currency by contacting TSX Trust Company at 1-800-387-0825 prior to the record date of the dividend.

The Canadian dollar equivalent of the quarterly common share dividend is based on the Bank of Canada daily average exchange rate on the day before the declaration date.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, AQN hereby notifies holders of common shares, preferred shares, Series A, and preferred shares, Series D that such dividends declared qualify as eligible dividends.

About Algonquin Power & Utilities Corp. and Liberty

Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately $18 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and/or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN and AQNB, respectively.

Visit AQN at www.algonquinpower.com and follow us on X.com @AQN_Utilities.

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SOURCE Algonquin Power & Utilities Corp.

FAQ

What is the dividend amount for AQN common shares in Q3 2024?

Algonquin Power & Utilities Corp. (AQN) declared a dividend of US$0.0650 (C$0.0893) per common share for the third quarter of 2024.

When will AQN pay its Q3 2024 common share dividend?

AQN will pay the Q3 2024 common share dividend on October 15, 2024, to shareholders of record on September 30, 2024.

What are the preferred share dividend amounts for AQN in Q3 2024?

AQN will pay C$0.41100 per Series A preferred share and C$0.42831 per Series D preferred share for Q3 2024.

Is AQN's dividend reinvestment plan (DRIP) currently active?

No, AQN suspended its dividend reinvestment plan (DRIP) for common shares effective March 16, 2023.