Canadian Utilities Limited Announces Redemption of Perpetual Cumulative Second Preferred Shares Series 'O', 'T', and 'U'

 

CALGARY, ALBERTA--(Marketwire - Oct. 25, 2011) - Canadian Utilities Limited announced today that it will redeem on Dec. 2, 2011 all of its outstanding Perpetual Cumulative Second Preferred Shares Series 'O', 'T', and 'U' at a price of $25.00 per share plus accrued and unpaid dividends per share. The $100 million aggregate cost of redemption will be funded from cash.

Shares TSX Stock Dividend Per Share
Series Rate Outstanding Symbol ($)
Series O 4.35% 1,600,000 Not listed 0.271875
Series T 4.35% 1,600,000 Not listed 0.271875
Series U 4.35% 800,000 Not listed 0.271875

Alberta-based Canadian Utilities Limited, an ATCO company, with more than 6,000 employees and assets of approximately $11 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in Utilities (pipelines, natural gas and electricity transmission and distribution), Energy (power generation, natural gas gathering, processing, storage and liquids extraction) and Technologies (business systems solutions). More information can be found at www.canadian-utilities.com.

Forward-Looking Information: Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Corporation believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In particular, there can be no assurance that a transaction will be completed. Any forward-looking information contained in this news release represents the Corporation's expectations as of the date hereof, and is subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.



Canadian Utilities Limited
B.R. (Brian) Bale
Senior Vice President & Chief Financial Officer
(403) 292-7502