An anonymous director reports

ALGONQUIN POWER & UTILITIES CORP. DECLARES FIRST QUARTER 2015 DIVIDENDS

Algonquin Power & Utilities Corp.'s board of directors has declared a dividend of 8.75 U.S. cents per share on its common shares, payable on April 15, 2015, to the shareholders of record on March 31, 2015, for the period from Jan. 1, 2015, to March 31, 2015. The common share dividend will be paid in cash, or, if a shareholder has enrolled in the shareholder dividend reinvestment plan, dividends will be reinvested in additional shares of Algonquin as per the plan, based on equivalent Canadian funds. Plan shares will be acquired by way of a treasury purchase at the average market price as defined in the plan less a 5-per-cent discount for the first quarter of 2015.

Additionally, the board has declared the following preferred share dividends:

• A dividend of 28.125 cents per preferred share, Series A, payable in cash on March 31, 2015, to holders of record on March 16, 2015, for the period from Dec. 31, 2014, to, but excluding, March 31, 2015;
• A dividend of 31.25 per preferred share, Series D, payable in cash on March 31, 2015, to holders of record on March 16, 2015, for the period from Dec. 31, 2014, to, but excluding, March 31, 2015.

For Canadian-resident shareholders, dividends declared on both common shares and preferred shares are considered as eligible dividends for purposes of the dividend tax credit rules contained in the Income Tax Act (Canada). The quarterly dividends payable on common shares are declared in U.S. dollars. Beneficial shareholders (those who hold common shares through a financial intermediary) who are resident in Canada or the United States may request to receive their dividends in either U.S. dollars or the Canadian-dollar equivalent by contacting the financial intermediary with which the common shares are held. Unless the Canadian-dollar equivalent is requested, shareholders will receive dividends in U.S. dollars, which, as is often the case, the financial intermediary may convert to Canadian dollars. Registered shareholders receive dividend payments in the currency of residency. Registered shareholders may opt to change the payment currency by contacting CST Trust Company at 1-800-387-0825 prior to the record date of the dividend. The Canadian-dollar equivalent of the quarterly dividend is based on the Bank of Canada noon exchange rate on the record date or, if the record date falls on a weekend or holiday, on the Bank of Canada noon exchange rate of the preceding business day.