Stock Quote

Northland Power has approximately 4.8 million Cumulative 5-Year Rate Reset Preferred Shares (Series 1) outstanding.

The holders of Series 1 Preferred Shares are entitled to receive fixed cumulative dividends at an annual rate of $0.80 per share, payable quarterly, on the last business day of March, June, September and December.

The dividend rate will reset on September 30, 2025 and every five years thereafter at a rate equal to the then five-year Government of Canada Bond yield plus 2.80%. The Series 1 Preferred Shares may be redeemed by the corporation, at the election of the corporation, on September 30, 2025 and every five years thereafter. The Series 1 Preferred Shares are rated P-3 by Standard & Poor's.

The Series 1 preferred shares are listed on the Toronto Stock Exchange (TSX) under the symbol NPI.PR.A.

Northland Power has approximately 1.2 million Cumulative Floating 5-Year Rate Reset Preferred Shares (Series 2) outstanding.

The holders of Series 2 Preferred Shares are entitled to receive floating dividend of 2.80% over the annual yield on 90-day Government of Canada treasury bills (as determined on the relevant quarterly dividend determination date), payable quarterly, on the last business day of March, June, September and December. The Series 2 Preferred Shares may be redeemed by the corporation, at the election of the corporation, on September 30, 2025 and every five years thereafter.

The Series 2 preferred shares are listed on the Toronto Stock Exchange (TSX) under the symbol NPI.PR.B.

Northland redeemed all of its 4,800,000 issued and outstanding Cumulative Rate Reset Preferred Shares, Series 3 (the “Series 3 Preferred Shares”) on January 3, 2023. Please refer to Press release issued on November 25, 2022 for more information.