Sprott Power Corp. to Initiate Quarterly Cash Dividend

TORONTO, Nov. 7, 2011 /CNW/ - Sprott Power Corp. (TSX:SPZ), a developer, owner and operator of renewable energy projects, today announced that its Board of Directors has approved the introduction of a dividend policy.

Pursuant to the new dividend policy, Sprott Power has instituted an annual $0.04 cash dividend, payable quarterly. The Board of Directors declared the first such quarterly cash dividend of $0.01 per share payable on January 16, 2012 to shareholders of record as of the close of business on December 30, 2011. Sprott Power's Board of Directors will review the dividend policy from time to time taking into consideration the Company's cash flow, earnings, working capital requirements, financial position and other relevant factors.

"Our Board's decision to introduce a quarterly cash dividend policy demonstrates its confidence in the Company's financial strength and the ability of our existing operating assets and projects under construction to generate consistent positive cash flows," said Jeff Jenner, Chief Executive Officer of Sprott Power.  "The Board will review this policy as our pipeline of development projects mature, and we bring new assets online."

About Sprott Power Corp.

Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company dedicated to the development, owning and operating of renewable energy projects. Through project development efforts, acquisitions, partnerships and joint ventures, Sprott Power provides its shareholders with income and growth from the renewable power generation sector of the energy industry.

Forward-Looking Statements

Certain information contained in this press release may constitute "forward-looking information" which reflects the current expectations of Sprott Power. This information, such as future proceeds on sale of assets, reflects Sprott Power's current beliefs with respect to future events and are based on information currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information including, without limitation, the risks listed under the heading "Risk and Uncertainties" in the Management Discussion and Analysis of Financial Results dated June 13, 2011.  Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this release. Although forward-looking information contained in this release is based upon what Sprott Power believes to be reasonable assumptions, management cannot assure investors that actual results, performance or achievements will be consistent with this forward-looking information. The forward-looking information is made as of the date of this release and Sprott Power does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.  

SOURCE Sprott Power Corp.

For further information:

Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
416-943-6387
jjenner@sprottpower.com
  Babak Pedram
Investor Relations
The Equicom Group
416-815-0700 ext. 264
bpedram@equicomgroup.com

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Sprott Power Corp.

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