TORONTO, June 8, 2012 /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 payment of a quarterly cash
dividend of $0.01325 per share payable on July 16, 2012 to shareholders
of record as of the close of business on June 29, 2012. The dividend
declaration reflects the 32.5% increase in the annual dividend to
$0.053 annually from the prior rate of $0.04 annually as announced on
April 17, 2012.
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. For Canadian resident shareholders, dividends
declared are considered as "eligible dividends" for purposes of the
divided tax credit rules contained in the Income Tax Act (Canada).
About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company
dedicated to the development, ownership and operation 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.
Certain information contained in this press release may constitute
"forward-looking information" which reflects the current expectations
of Sprott Power. This information 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 Factors" in the Company's Annual
Information Form dated March 26, 2012. 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.
The Equicom Group
416-815-0700 ext. 264