TORONTO, ON–(Marketwired – May 09, 2017) – Polaris Infrastructure Inc. (TSX: PIF) (“Polaris Infrastructure” or the “Company”), a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to announce that its board of directors has declared a quarterly dividend of US$0.12 per common share outstanding. This dividend will be paid on May 24, 2017 to shareholders of record at the close of business on May 19, 2017.
The US$0.12 dividend per share related to the first quarter of 2017 equates to approximately a 56% payout ratio, which reflects the reduced revenue in the first quarter of 2017 stemming from planned turbine maintenance. Adjusting for the estimated impact of the planned turbine maintenance, payout ratio for the first quarter of 2017 falls to 37%.
The board of directors of Polaris Infrastructure remains committed to paying a quarterly dividend and will evaluate further dividend increases if considered appropriate at such time.
About Polaris Infrastructure
Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. Currently, the Company operates a 72MW geothermal project located in Nicaragua.
Investor Relations
Polaris Infrastructure Inc.
Phone: +1 416-849-2587
Email: info@polarisinfrastructure.com