- Atlantic Power (NYSE:AT-OLD) announces changes to its capital allocation strategy, including eliminating the common stock dividend, effective immediately.
- AT says it will prioritize allocation of its discretionary capital to equity and debt repurchases, and has identified additional high-return investments in its existing projects as well as potential repowering projects linked to extensions of power purchase agreements.
- AT also reaffirms its 2015 guidance for adjusted EBITDA of $200M-$215M, adjusted cash flows from operating activities of $95M-$105M and adjusted free cash flow of $0-$10M.