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Algonquin Power & Utilities Corp. Announces Q4, Year End Results; Declares Dividend

Algonquin Power & Utilities Corp. (AQN.TO) declared a dividend of $0.0775 on its common shares, payable on April 15, 2013 to the shareholders of record on March 28, 2013 for the period from January 1, 2013 to March 31, 2013.

Financial Highlights:

- For the fourth quarter of 2012, revenue from continuing operations was $143.1 million as compared to $70.5 million in the fourth quarter of 2011. The increase in revenue over the same period in 2011 is primarily related to results from the acquisitions of the New Hampshire gas and electric utility assets, Midwest gas utility assets, and the acquisition of an interest in the U.S. wind projects, all of which occurred in the second half of 2012. For the year 2012, APUC generated revenue from continuing operations of $369.9 million as compared to $270.7 million in 2011.

- Adjusted earnings before interest, taxes, depreciation and amortization was $33.4 million in the fourth quarter of 2012 as compared to $24.3 million in the fourth quarter of 2011. The increase in adjusted EBITDA over the comparable period is primarily related to increased revenues as a result of the acquisition of the New Hampshire gas and electric utility assets, Midwest gas utility assets, and the U.S. wind projects, and increased demand at the electric distribution utility in California. APUC generated adjusted EBITDA of $106.2 million in 2012 as compared to $103.7 million in 2011.

- APUC reported adjusted net earnings of $5.4 million or $0.03 per share in the fourth quarter of 2012 as compared to adjusted net earnings of $3.6 million or $0.03 per share in the fourth quarter of 2011. For the year 2012, APUC reported adjusted net earnings of $20.8 million or $0.14 per share as compared to $38.3 million or $0.33 per share in 2011

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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