EDMONTON, Sept. 5 /CNW/ - EPCOR Power L.P. (TSX: EP.UN) ("the
Partnership") and EPCOR Power Equity Ltd. (TSX: EPP.PR.A) ("the Corporation"),
a subsidiary of the Partnership, announce that the Corporation has declared
the initial quarterly dividend of $0.42305 per share on its Cumulative
Redeemable Preferred Shares, Series 1 ("Series 1 Shares").
The dividend is to be paid on September 28, 2007 to shareholders of
record at the close of business on September 17, 2007. The dividends are 100%
eligible dividends as defined by the Income Tax Act. Under this legislation,
individuals resident in Canada may be entitled to enhanced dividend tax
credits that reduce the income tax otherwise payable.
This initial quarterly dividend for the Series 1 Shares represents
approximately a four month time period from May 25, 2007, when the initial
share offering closed, to September 30, 2007. Future quarterly dividends, if
declared, will be $0.303125 per quarter or $1.2125 per annum.
About EPCOR Power L.P.
Established in 1997, EPCOR Power L.P. is a limited partnership organized
under the laws of the Province of Ontario. The Partnership, directly and
through subsidiaries, including the Corporation, has an ownership interest in
a portfolio of 20 power generation assets in Canada and the United States with
total net generating capacity of 1,287 megawatts and more than three million
pounds per hour of thermal energy. The Partnership, through the Corporation,
also owns a 15.4 per cent interest in Primary Energy Recycling Holdings LLC
("PERH"). PERH wholly owns four recycled energy assets in the United States
with an aggregate generation capacity of 284 megawatts and nearly two million
pounds per hour of thermal energy, and holds a 50 per cent interest in a
pulverized coal facility. Primary Energy Ventures LLC, a subsidiary of the
Partnership, manages and operates these facilities for PERH. The Partnership's
web-site is www.epcorpowerlp.ca.
About EPCOR Power Equity Ltd.
The Corporation was incorporated under the laws of the Province of
Alberta on June 26, 1998 and is a subsidiary of the Partnership. The
Corporation operates as a holding company and indirectly holds all of the
Partnership's business and power generation and other assets in the United
States, including the Partnership's Castleton, Curtis Palmer, Manchief,
Frederickson, Naval Station, North Island, Naval Training Center, Oxnard,
Greeley, Kenilworth, Roxboro and Southport power generating facilities. These
facilities have a total generating capacity of approximately 967 megawatts
(representing approximately 75 per cent of the total generating capacity of
the Partnership's assets) and approximately three million pounds per hour of
thermal energy (representing 100 per cent of the total thermal energy capacity
of the Partnership's assets). In addition, the Corporation holds, through a
wholly-owned subsidiary, the Partnership's overall 15.4 per cent equity
interest in PERH.
For further information:
For further information: Media inquiries: Tim LeRiche, (780) 969-8238;
Shareholder and analyst inquiries: Randy Mah, (780) 412-4297, (866) 896-4636