Key Developments: Capital Power Corporation (CPX.TO)
21.76CAD
17 May 2013
$0.09 (+0.42%)
$21.67
$21.60
$21.91
$21.56
67,474
143,654
$24.53
$20.54
Latest Key Developments (Source: Significant Developments)
Capital Power Corporation Declares Dividends For Common And Cumulative Rate Reset Preference Shares
Capital Power Corporation announced that it declared a dividend of $0.315 per share on the outstanding common shares for the quarter ending June 30, 2013 . The dividend is payable on July 31, 2013 to shareholders of record at the close of business on June 28, 2013. The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares: announced that it has declared a dividend of $0.2875 per share on its Cumulative Rate Reset Preference Shares Series 1, Series 3, Series 5. The Cumulative Rate Reset Preference Shares dividend is payable on June 28, 2013 to shareholders of record at the close of business on June 17, 2013. Full Article
Capital Power Corporation Announces Closing Of CAD200 Million Offering Of 4.50% Cumulative Rate Reset Preferred Shares
Capital Power Corporation announced that it has closed previously announced offering of 8,000,000 Cumulative Rate Reset Preference Shares, Series 5 (the Series 5 Shares) at a price of $25per Series 5 Share for aggregate gross proceeds of $200 million on a bought deal basis with a syndicate of underwriters, led by RBC Capital Markets and Scotiabank. Full Article
Capital Power Corporation Announces Increase to Preferred Share Issue
Capital Power Corporation announced that as a result of strong investor demand for its previously announced offering of 6,000,000 Cumulative Rate Reset Preference Shares, Series 5 (the Series 5 Shares), the underwriters have exercised their option to purchase an additional 2,000,000 Series 5 Shares at a price of $25.00 per share. Capital Power will receive additional gross proceeds of $50,000,000 from the exercise of the option, increasing the total size of the offering to $200,000,000. The anticipated closing date of March 14, 2013 for the offering, including the issuance of the additional 2,000,000 Series 5 Shares, remains unchanged. Full Article
Capital Power Corporation Announces CAD150 Million Offering of 4.50% Cumulative Rate Reset Preferred Shares
Capital Power Corporation Preference Shares, Series 5 (the Series 5 Shares) at a price of $25 per Series 5 Share (the Offering) for aggregate gross proceeds of $150 million on a bought deal basis with a syndicate of underwriters, led by RBC Capital Markets and Scotiabank. In addition, Capital Power has granted the underwriters an option, exercisable in whole or in part anytime up to two business days prior to closing, to purchase up to an additional 2,000,000 Series 5 Shares on the same terms, for additional gross proceeds of up to $50 million. Any additional Series 5 Shares will also be issued on the closing date. The Series 5 Shares will pay fixed cumulative dividends of $1.125 per share per annum, yielding 4.50% per annum, payable on the last business day of March, June, September and December of each year, as and when declared by the board of directors of Capital Power, for the initial period ending June 30, 2018. Based on a March 14, 2013 closing, the first quarterly dividend of $0.3329 per share is expected to be paid on June 28, 2013. Net proceeds of the offering will be lent to Capital Power L.P. pursuant to a subordinated debt agreement. Capital Power L.P. will use the funds to repay the outstanding balance under its credit facilities, to finance development projects including the Shepard Energy Centre project, and for general corporate purposes. Full Article
Capital Power Corporation Issues FY 2013 EPS Guidance In Line With Analysts' Esimates-Conference Call
Capital Power Corporation announced that for fiscal 2013, it expects earnings per share of CAD1.20 to CAD1.40. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.40 for fiscal 2013. Full Article
Capital Power Corporation Declares Quarterly Dividend
Capital Power Corporation announced that it has declared a dividend of $0.315per share on the outstanding common shares for the quarter ending March 31, 2013. The dividend is payable on April 30, 2013 to shareholders of record at the close of business on March 28, 2013. Full Article
Capital Power Corporation Announces Closing Of CAD150 Million Offering Of 4.60% Cumulative Rate Reset Preferred Shares
Capital Power Corporation announced that it has closed its previously announced offering of 6,000,000 Cumulative Rate Reset Preference Shares, Series 3 at a price of CAD25 per Series 3 Share for aggregate gross proceeds of CAD150 million on a bought deal basis with a syndicate of underwriters, led by TD Securities Inc. and BMO Capital Markets. The Series 3 Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. Full Article
Capital Power Corporation Announces CAD150 Million Offering of 4.60% Cumulative Rate Reset Preferred Shares
Capital Power Corporation announced that it will issue 6,000,000 Cumulative Rate Reset Preference Shares, Series 3 (the Series 3 Shares) at a price of $25 per Series 3 Share (the Offering) for aggregate gross proceeds of $150 million on a bought deal basis with a syndicate of underwriters, led by TD Securities Inc. and BMO Capital Markets. In addition, Capital Power has granted the underwriters an option, exercisable in whole or in part anytime up to two business days prior to closing, to purchase up to an additional 2,000,000 Series 3 Shares on the same terms, for additional gross proceeds of up to $50 million. Any additional Series 3 Shares will also be issued on the closing date. The Series 3 Shares will pay fixed cumulative dividends of $1.15 per share per annum, yielding 4.60% per annum, payable on the last business day of March, June, September and December of each year, as and when declared by the board of directors of Capital Power, for the initial period ending December 31, 2018. The first quarterly dividend of $0.3151 per share is expected to be paid on March 28, 2013. The dividend rate will be reset on December 31, 2018 and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada bond yield and 3.23%. The Series 3 Shares are redeemable by Capital Power, at its option, on December 31, 2018 and on December 31 of every fifth year thereafter. Full Article
Capital Power Corp Purchases 50% In Shepard Energy Centre
Capital Power Corp and ENMAX Corporation announced that Capital Power has signed an agreement to purchase a 50% interest in the 800MW natural-gas-fueled Shepard Energy Centre, located on the eastern limits of the City of Calgary. The parties will build, own, and operate the Shepard Energy Centre under a joint venture agreement. The Shepard Energy Centre project is a significant advancement in moving Alberta toward lower-emitting, highly reliable, more efficient natural gas-fueled electricity generation, made possible because of the abundance of clean-burning natural gas. Construction commenced on the Shepard Energy Centre in July 2011. The project is on budget and on schedule for completion in the first quarter of 2015. Full Article
Capital Power Corporation Issues FY 2013 EPS Guidance Below Analysts' Estimates-Conference Call
Capital Power Corporation announced that for fiscal 2013, it expects normalized earnings per share of $1.20 to $1.40. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.43 for fiscal 2013. Full Article
TEXT - S&P comments on Capital Power LP and ENMAX Corp
Dec 6 - Standard & Poor's Ratings Services today said that the announced joint venture between Capital Power L.P. (CPLP; BBB-/Stable/--) and ENMAX Corp. (BBB+/Stable/--) to build, own, and operate the Shepard Energy Centre does not affect the ratings on CPLP, its parent, Capital Power Corp. (CPC; BBB-/Stable/--) or ENMAX. We expect the transaction to close in first-quarter 2013. We believe the joint venture is credit neutral for CPLP and CPC because the financing plan that management has pro
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