All dividends paid on Canadian Utilities Limited shares on or after January 1, 2006 are designated "eligible dividends" for Canadian income tax purposes unless Canadian Utilities Limited indicates otherwise. You should consult your tax advisor for advice with respect to the income tax consequences of receiving eligible dividends. Further information regarding the taxation of eligible dividends is also available from the Canada Revenue Agency.
Cumulative Redeemable Second Preferred Shares Series W
Price:» $25.00 per share par value to yield 5.80% per annum
TSX Symbol:» CU.PR.A
Shares Outstanding as at December 31, 2006:» 6,000,000
Key Terms:The Cumulative Redeemable Second Preferred Shares Series W (the “Series W Preferred Shares”) of Canadian Utilities Limited (the “Corporation”) will be entitled to fixed cumulative preferential cash dividends, if, as and when declared by the Board of Directors of the Corporation, at a rate of $1.45 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.
On or after March 1, 2008, the Corporation may, at its option on not less than 30 nor more than 60 days’ prior notice, redeem for cash the Series W Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing March 1, 2008, at $25.75 per share if redeemed during the 12 months commencing March 1, 2009, at $25.50 per share if redeemed during the 12 months commencing March 1, 2010, at $25.25 per share if redeemed during the 12 months commencing March 1, 2011, and at $25.00 per share if redeemed on and after March 1, 2012, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.
Prospectus:» Cumulative Redeemable Second Preferred Shares Series W
Other Issuances:» CU Inc. Preferred Shares
Price:» $25.00 per share par value to yield 6.00% per annum
TSX Symbol:» CU.PR.B
Key Terms:The Cumulative Redeemable Second Preferred Shares Series X (the “Series X Preferred Shares”) of Canadian Utilities Limited (the “Corporation”) will be entitled to fixed cumulative preferential cash dividends, if, as and when declared by the Board of Directors of Corporation, at a rate of $1.50 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.
On or after June 1, 2008 the Corporation may, at its option on not less than 30 nor more than 60 days prior notice, redeem for cash the Series X Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing June 1, 2008, at $25.75 per share if redeemed during the 12 months commencing June 1, 2009, at $25.50 per share if redeemed during the 12 months commencing June 1, 2010, at $25.25 per share if redeemed during the 12 months commencing June 1, 2011, and at $25.00 per share if redeemed on and after June 1, 2012, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.
Prospectus:» Cumulative Redeemable Second Preferred Shares Series X
Cumulative Redeemable Second Preferred Shares Series Y
Price:» $25.00 per share par value to yield 4.00% per annum
TSX Symbol:» CU.PR.C
Shares Outstanding as at September 21, 2011:» 13,000,000
Key Terms:The Cumulative Redeemable Second Preferred Shares Series Y were issued on September 13, 2011, at a price of $25.00 per share.
Holders are entitled to receive fixed cumulative preferential cash dividends, payable quarterly for an initial period of five and a half years, as and when declared by the Board of Directors of the Corporation, at an annual rate of $1.00 per share, to yield 4.00% annually. Thereafter, the dividend rate will reset every five years to the then current 5-Year Government of Canada bond yield plus 2.40%. On June 1, 2017, and on June 1 of every fifth year thereafter, the Corporation may redeem the Series Y Preferred Shares in whole or in part at par.
Holders may elect to convert any or all of their Series Y Preferred Shares into an equal number of Cumulative Redeemable Second Preferred Shares Series Z on June 1, 2017, and on June 1 of every fifth year thereafter. Holders of the Series Z Preferred Shares will be entitled to receive quarterly floating rate cumulative preferential cash dividends, as and when declared by the Board of Directors, equal to the then current 3-month Government of Canada Treasury Bill yield plus 2.40%. On June 1 of every fifth year following conversion, the Corporation may redeem the Series Z Preferred Shares in whole or in part at par; on any other date, the Corporation may redeem the Series Z Preferred Shares in whole or in part by the payment of $25.50 for each share to be redeemed.
Prospectus:» Cumulative Redeemable Second Preferred Shares Series Y