Northland Power Announces Changes to its Dividend Re-Investment Plan
TORONTO, Nov. 06, 2018 — Northland Power Inc. (“Northland”) (TSX: NPI) announced today that the Company has reduced the discount under its Dividend Re-Investment Plan (“DRIP”) from the current 5% to 0%, effective immediately. Additionally, Northland intends to initiate the sourcing of shares for purposes of the DRIP participants through market purchases, but reserves the right to issue shares from treasury. This change is effective with the dividend currently scheduled to be paid on December 14, 2018, to shareholders of record on November 30, 2018.
Northland has elected to update its DRIP at this time due to improved liquidity and strength of the balance sheet required to meet any equity requirements for funding its future growth. Shareholders participating in the Plan should consult their tax advisers about tax consequences that may result from their participation in the Plan.
ABOUT NORTHLAND POWER
Northland Power is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates sustainable infrastructure assets that produce ‘clean’ (natural gas) and ‘green’ (wind, solar, and hydro) energy, providing stable long-term value to shareholders, stakeholders, and host communities.
Northland owns or has an economic interest in 2,429 MW (net 2,014 MW) of operating power capacity and is currently constructing the 269 MW Deutsche Bucht offshore wind project located in the German North Sea. In addition, Northland has 60% equity interest in the 1,044 MW Hai Long projects (net 626 MW) under advanced development in Taiwan.
Northland’s common shares, Series 1, Series 2, and Series 3 preferred shares and Series B and Series C convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C, respectively.
For further information, please contact:
Barb Bokla, Manager, Investor Relations, (647) 288-1438
investorrelations@northlandpower.com
www.northlandpower.com
NT4
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