Authorization

Algonquin Power & Utilities Corp. Declares First Quarter 2020 Common Share Dividend of U.S. $0.1410 (C$0.1876)

OAKVILLE, ON, Feb. 27, 2020 /CNW/ - Algonquin Power & Utilities Corp. ("APUC") (TSX/NYSE: AQN) announced today that the Board of Directors has declared a dividend of U.S. $0.1410 per share on its common shares, payable on April 15, 2020, to the shareholders of record on March 31, 2020, for the period from January 1, 2020 to March 31, 2020.A  Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.1876.The common share dividend will be paid in cash or, if a shareholder has enrolled in the shareholder dividend reinvestment plan (the "Plan"), dividends will be reinvested in additional shares ("Plan Shares") of APUC as per the Plan.A  Plan Shares will be acquired by way of a Treasury Purchase at the average market price as defined in the Plan less a 5% discount.Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies its common shareholders that such dividends declared qualify as eligible dividends.The quarterly dividends payable on common shares are declared in U.S. dollars. Beneficial shareholders (those who hold common shares through a financial intermediary) who are resident in Canada or the United States may request to receive their dividends in either U.S. dollars or the Canadian dollar equivalent by contacting the financial intermediary with whom the common shares are held. Unless the Canadian dollar equivalent is requested, shareholders will receive dividends in U.S. dollars, which, as is often the case, the financial intermediary may convert to Canadian dollars. Registered shareholders receive dividend payments in the currency of residency. Registered shareholders may opt to change the payment currency by contacting AST Trust Company (Canada) at 1-800-387-0825 prior to the record date of the dividend.The Canadian dollar equivalent of the quarterly dividend is based on the Bank of Canada daily average exchange rate on the day before the declaration date.
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