TORONTO, Aug. 7, 2018 /CNW/ - Polaris Infrastructure Inc. (TSX: PIF) ("Polaris Infrastructure" or the "Company"), a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to announce that its board of directors has declared a quarterly dividend of US$0.15 per common share outstanding. This dividend will be paid on August 27, 2018 to shareholders of record at the close of business on August 15, 2018.
The $0.15 dividend per share related to the second quarter of 2018 equates to approximately a 34% payout ratio, while on a year to date basis, reflecting the previously declared and paid dividend of $0.15 per share, equates to a 42% payout ratio. Adjusting for the estimated impact of planned turbine maintenance completed in the first quarter of 2018, the payout ratio for the six months ended June 30, 2018 falls to approximately 37%.
The board of directors of Polaris Infrastructure remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward.
About Polaris Infrastructure
Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. Currently, the Company operates a geothermal project located in Nicaragua.
SOURCE Polaris Infrastructure Inc.
For further information: Investor Relations, Polaris Infrastructure Inc., Phone: +1 416-849-2587, Email: email@example.com