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Capital Power Income L.P. and CPI Preferred Equity Ltd. announce quarterly dividend on the Cumulative Redeemable Preferred Shar

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^{Published in Business and Finance on Thursday, December 3rd 2009 at 16:05 GMT by Market Wire}  

EDMONTON, Dec. 3 /CNW/ - Capital Power Income L.P. (TSX: CPA.UN) (the Partnership) and CPI Preferred Equity Ltd. (TSX: CZP.PR.A and CZP.PR.B) (the Corporation), a subsidiary of the Partnership, announced that the Corporation has declared a quarterly dividend of $0.303125 per share on its Cumulative Redeemable Preferred Shares, Series 1 (the Series 1 Shares). Further, the Corporation has declared a dividend of $0.28288 for the period from November 2, 2009 to December 31, 2009 on its Cumulative Redeemable Rate Reset Preferred Shares, Series 2 (the Series 2 Shares).

The dividends on the Series 1 Shares and the Series 2 Shares are to be paid on December 31, 2009 to shareholders of record at the close of business on December 16, 2009. The dividends are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.

About Capital Power Income L.P.

Established in 1997, Capital Power Income L.P. is a limited partnership organized under the laws of the Province of Ontario. The Partnership's portfolio includes 19 wholly-owned power generation assets located in Canada and the United States and a 50 per cent interest in a power generation asset in Washington State. The Partnership's assets have a total net generating capacity of 1,400 megawatts and more than four million pounds per hour of thermal energy. For more information on the Partnership, please visit: HYPERLINK "[ http://www.capitalpowerincome.ca ]" [ www.capitalpowerincome.ca ].

About CPI Preferred Equity Ltd.

The Corporation was incorporated under the laws of the Province of Alberta on June 26, 1998 and is a wholly-owned subsidiary of the Partnership. The Corporation operates as a holding company and indirectly holds all of the Partnership's business and power generation and other assets in the United States, including the Partnership's Curtis Palmer, Manchief, Frederickson, Naval Station, North Island, Naval Training Center, Oxnard, Greeley, Kenilworth, Roxboro, Southport and Morris power generating facilities. These facilities have a total generating capacity of approximately 1,080 megawatts (representing approximately 77 per cent of the total generating capacity of the Partnership's assets) and approximately four million pounds per hour of thermal energy (representing 100 per cent of the total thermal energy capacity of the Partnership's assets).