Newfoundland Power Declares Dividends on Series A, B, D and G First Preference Shares

Marketwired

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb 8, 2013) - Newfoundland Power Inc. has declared regular quarterly dividends on its Series A, B, D and G First Preference Shares as follows:

  1. a dividend of $0.1375 per share on the issued and outstanding 5 1/2% cumulative redeemable first preference share series A of the Company for the quarter ending April 30th, 2013, be and is hereby declared payable May 1st, 2013 to the series A first preference shareholders of record at the close of business on April 12th, 2013;

  2. a dividend of $0.13125 per share on the issued and outstanding 5 1/4% cumulative redeemable first preference share series B of the Company for the quarter ending April 30th, 2013, be and is hereby declared payable May 1st, 2013 to the series B first preference shareholders of record at the close of business on April 12th, 2013;

  3. a dividend of $0.18125 per share on the issued and outstanding 7 1/4% cumulative redeemable first preference share series D of the Company for the quarter ending May 31st, 2013, be and is hereby declared payable June 3rd, 2013 to the series D first preference shareholders of record at the close of business on May 17th, 2013;

  4. a dividend of $0.19 per share on the issued and outstanding 7.60% cumulative redeemable first preference share series G of the Company for the quarter ending March 31st, 2013, be and is hereby declared payable April 1st, 2013 to the series G first preference shareholders of record at the close of business on March 15th, 2013; and,

  5. the dividends hereby declared payable be and are hereby designated as eligible dividends within the meaning of s.89(1) of the Income Tax Act (Canada).

All the common shares of Newfoundland Power Inc. are owned by Fortis Inc. (FTS.TO), the largest investor-owned distribution utility in Canada, with total assets of approximately $15 billion and fiscal 2012 revenue totalling $3.7 billion. Fortis serves more than 2,000,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upstate New York. It also owns hotels and commercial office and retail space in Canada. Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of approximately 250,000 accounts, Newfoundland Power is committed to safety and dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power''s programs, services and community partnerships, please visit newfoundlandpower.com.

Contact:
Ms. Jocelyn Perry
Vice President, Finance & Chief Financial Officer
Newfoundland Power Inc.
Office: (709) 737-2812
(709) 737-5300

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