Mr. Randy Mah reports

CAPITAL POWER DECLARES DIVIDENDS FOR ITS COMMON AND PREFERENCE SHARES

Capital Power Corp. has declared a dividend of 48 cents per share on the outstanding common shares for the quarter ending March 31, 2020. The dividend is payable on April 30, 2020, to shareholders of record at the close of business on March 31, 2020.

The company has also declared dividends on its cumulative rate reset preference shares, as outlined in an attached table.

Shares       TSX stock symbol   Dividend per share      Record date    Payment date
 
Series 1             CPX.PR.A         19.125 cents   March 18, 2020  March 31, 2020
Series 3             CPX.PR.C       34.08125 cents   March 18, 2020  March 31, 2020
Series 5             CPX.PR.E        32.7375 cents   March 18, 2020  March 31, 2020
Series 7             CPX.PR.G           37.5 cents   March 18, 2020  March 31, 2020
Series 9             CPX.PR.I        35.9375 cents   March 18, 2020  March 31, 2020
Series 11            CPX.PR.K        35.9375 cents   March 18, 2020  March 31, 2020

The dividends for the common shares and preference shares are eligible dividends (100 per cent), 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 on these dividends.

About Capital Power Corp.

Capital Power is a growth-oriented North American power producer that is headquartered in Edmonton, Alta. The company develops, acquires, owns and operates power generation facilities using a variety of energy sources.