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Northland Announces Reset Dividend Rate on Its Cumulative Rate Reset Preferred Shares, Series 1 & Series 2
Globenewswireยท 2025-08-29 21:15
Core Points - Northland Power Inc. has announced the fixed dividend rate for its Cumulative Rate Reset Preferred Shares, Series 1, set at an annual rate of 5.70% for the period from September 30, 2025, to September 29, 2030, translating to $0.3564 per share per quarter [1] - The quarterly floating rate dividends for the Cumulative Floating Rate Preferred Shares, Series 2, will be calculated at an annual rate of 2.80% over the yield on 90-day Government of Canada treasury bills, with the initial rate for the September to December 2025 period set at 1.38% [2] - Holders of Series 1 and Series 2 Shares can convert their shares into the other series on a one-for-one basis until September 15, 2025, effective September 30, 2025 [3] - If the number of outstanding shares in either series falls below 1,000,000 after conversions, those shares will be automatically converted into the other series [4] - Currently, there are 4,762,246 Series 1 Shares and 1,273,754 Series 2 Shares outstanding [5] Company Overview - Northland Power is a Canada-based global power producer focused on accelerating the global energy transition, with a history dating back to 1987 [6] - The company operates a diversified mix of energy infrastructure assets, including offshore and onshore wind, solar, battery energy storage, and natural gas [6] - Northland has a gross operating generating capacity of 3.5 GW, with 2.2 GW under construction and approximately 9 GW in early to mid-stage development opportunities [7] - The company's shares are publicly traded on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, and NPI.PR.B [7]