Algonquin Power secures USD-30m credit line

Nov 21, 2012 - Canadian firm Algonquin Power & Utilities Corp (TSE:AQN) said Tuesday it had agreed with the Bank of Nova Scotia (TSE:BNS) a CAD-30-million (USD 30m/EUR 23.5m) senior credit facility it would use for general corporate purposes.

The unsecured revolving credit line matures on November 19, 2015.

In a separate statement yesterday, the renewable energy and regulated utility company said it would distribute a common share dividend of CAD 0.0775 apiece for the fourth quarter of 2012. Shareholders of record on December 31 can receive the payout on January 15, 2013. The dividend is payable in cash, but shareholders who have joined the company's dividend reinvestment plan can instead get additional shares at a discount.

Furthermore, Algonquin Power is to pay on December 31 an initial cash dividend of CAD 0.1603 per preferred share, series A, to holders on record as of December 17.

Algonquin Power invests in hydro, wind and solar power plants, and utility distribution businesses that include water, electricity and natural gas through its two operating subsidiaries Algonquin Power Co and Liberty Utilities.

(CAD 1 = USD 1.002/EUR 0.785)

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