Atlantic Power Corporation Announces February 2012 Common Share Dividend

BOSTON, Feb. 15, 2012 /PRNewswire/ -- Atlantic Power Corporation (TSX: ATP) (NYSE: AT) (the "Company") today announced its distribution for the month of February 2012.  A dividend of Cdn$0.09583 per common share will be payable on March 30, 2012 to holders of record at the close of business on February 29, 2012.

Tax Information for Shareholders
Atlantic Power Corporation designates this dividend to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada. 

U.S. individual or other non-corporate taxpayers should be eligible for the reduced rate of tax currently applicable to "qualified dividends" provided that the investor meets the holding period and any other requirements. 

The Company's common share dividend is subject to a 25% withholding tax rate for holders that are not residents of Canada, which may be reduced pursuant to an applicable tax treaty.  The withholding tax rate is 15% for U.S.-resident holders that qualify for the benefits of the Canada – U.S. Income Tax Convention. 

Non-Canadian holders may be required by their brokers to complete a Form NR301 (or an equivalent form) in order to demonstrate their entitlement to a treaty-reduced rate of withholding tax after December 31, 2012.  U.S. and other non-Canadian holders should consult their brokers about the requirement to provide such forms.

U.S. individuals holding shares in taxable accounts may be eligible to receive a credit on their U.S. income tax return for this withholding tax.  U.S. individuals holding the Company's common shares in Individual Retirement Accounts ("IRAs") may be exempt from withholding tax pursuant to the Canada – U.S. Income Tax Convention. 

Taxpayers should always seek their own independent qualified professionals regarding the tax consequences of purchasing or owning common shares of the Company.  Individuals who believe the withholding tax exemption applies to their IRA should contact their broker to determine how to claim the exemption.

About Atlantic Power
Atlantic Power is a leading publicly traded, power generation and infrastructure company with a well diversified portfolio of assets in the United States and Canada. Our power generation projects sell electricity to utilities and other large commercial customers under long-term power purchase agreements, which seek to minimize exposure to changes in commodity prices.  The net generating capacity of the Company's projects is approximately 2,140 MW, consisting of interests in 31 operational power generation projects across 11 states and 2 provinces, one 53 MW biomass project under construction in Georgia, and an 84-mile, 500 kilovolt electric transmission line located in California. Atlantic Power also owns a majority interest in Rollcast Energy, a biomass power plant developer with several projects under development.  Atlantic Power is incorporated in British Columbia, headquartered in Boston and has offices in Chicago, Toronto, and Richmond, B.C. 

Our corporate strategy is to generate stable, contracted cash flows from our existing assets to sustain our dividend payout to shareholders while increasing the value of the company through accretive acquisitions in North American markets.  Our dividend is currently paid monthly at an annual rate of Cdn$1.15 per share.  

Atlantic Power has a market capitalization of approximately $1.5 billion and trades on the New York Stock Exchange under the symbol AT and on the Toronto Stock Exchange under the symbol ATP.  For more information, please visit the Company's website at www.atlanticpower.com or contact:

Atlantic Power Corporation 
Amanda Wagemaker, Investor Relations
(617) 977-2700 
[email protected]

Copies of financial data and other publicly filed documents are filed on SEDAR at www.sedar.com or on EDGAR at www.sec.gov/edgar.shtml under "Atlantic Power Corporation" or on the Company's website.

SOURCE Atlantic Power Corporation