Albert Alfonso
Dividend investing, dividend growth investing, master limited partnerships, oil & gas

Atlantic Power: Is Another Dividend Cut In The Cards?

Sometimes bad situations just get worse. This is currently the case surrounding Atlantic Power (NYSE:AT). According to a recent press release, Atlantic Power may be forced to drastically lower its dividend as soon as February, 2014. The reason for this is rather complicated, but can be summarized as the following: Atlantic Power is about to exceed certain loan covenants regarding its indebtedness.

As noted in the press release, Atlantic Power is about to repay and or redeem in whole the following notes:

    the $190,000,000 aggregate principal amount outstanding of 5.9% Senior Notes due 2014 issued by Curtis Palmer LLC; and the $150,000,000 aggregate principal amount outstanding of 5.87% Senior Guaranteed Notes, Series A, due 2015 and the ...
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