Algonquin Power & Utilities Corp. declares first quarter 2022 common stock dividend of US$0.1706 (CA$0.2161) and declares first quarter 2022 preferred stock dividends

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OAKVILLE, ON, March 3, 2022 /PRNewswire/ – Algonquin Power & Utilities Corp. (“AQN”) (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that its Board of Directors has approved and declared the dividends on the following common and preferred shares:

  1. $0.1706 per common share, payable on April 14, 2022to shareholders of record on March 31, 2022for the period from January 1, 2022 for March 31, 2022. Shareholders who receive cash dividends may elect to receive the dividend in Canadian dollars in the amount of CA$0.2161.

  2. CA$0.32263 per preferred share, series A, payable in cash on March 31, 2022 to the Preferred Share, Series A holders of record on March 15, 2022for the period from December 31, 2021 to, but excluding, March 31, 2022.

  3. CA$0.31819 per preferred share, Series D, payable in cash on March 31, 2022 to the Preferred Share, Series D holders of record on March 15, 2022for the period from December 31, 2021 to, but excluding, March 31, 2022.

The Common Share Dividend will be paid in cash or, if a Shareholder has enrolled in the Shareholder Dividend Reinvestment Plan (the “Plan”), the dividends will be reinvested in additional Common Shares (“Plan Shares”) d ‘AQN in accordance with the scheme. At March 3, 2022, AQN announced a change in the discount rate applicable to purchases of Plan Shares. Effective from March 3, 2022the Plan Shares will be acquired by purchasing treasury shares at the average market price as defined in the Plan less a discount of 3%, compared to the previous discount of 5%.

Quarterly dividends payable on common shares are declared in US dollars. Beneficial shareholders (those who hold ordinary shares through a financial intermediary) who reside in Canada Where United States may request to receive their dividends in US dollars or Canadian dollars by contacting the financial intermediary through which the common shares are held. Unless the Canadian dollar equivalent is requested, common shareholders will receive dividends in US dollars, which the financial intermediary may, as is often the case, convert into Canadian dollars. Registered shareholders receive payment of dividends in the currency of residence. Registered shareholders may choose to change the currency of payment by contacting TSX Trust Company at 1-800-387-0825 prior to the dividend record date.

The Canadian dollar equivalent of the quarterly dividend is based on the Bank of Canada daily average exchange rate on the day before the declaration date.

In accordance with the income tax law (Canada) and corresponding provincial laws, AQN hereby notifies the holders of Common Shares, Series A Preferred Shares and Series D Preferred Shares that such declared dividends qualify as eligible dividends.

About Algonquin Power & Utilities Corp. and Liberty

Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective and sustainable energy and water solutions through its portfolio of investments in electric power generation, transmission and distribution utilities. to more than one million customer connections, mainly in United States and Canada. AQN is a global leader in renewable energy with its portfolio of wind, solar and hydroelectric generation facilities under long-term contract. AQN owns, operates and/or has a net interest in over 4 GW of installed renewable energy capacity.

AQN is committed to driving growth and pursuing operational excellence in a sustainable manner through an expanding global pipeline of renewable energy and power transmission development projects, organic growth within its businesses production, distribution and transmission at regulated tariffs, and the pursuit of accretive activities, acquisitions and recycling that add value to assets.

The common shares, Series A Preferred Shares and Series D Preferred Shares of AQN are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A and AQN.PR.D, respectively. The common stock, Series 2018-A Subordinated Notes, Series 2019-A Subordinated Notes and Units of AQN trade on the New York Stock Exchange under the symbols AQN, AQNA, AQNB and AQNU, respectively.

Visit AQN at www.algonquinpowerandutilities.com and follow us on Twitter @AQN_Utilities.

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SOURCEAlgonquin Power & Utilities Corp.

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