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TORONTO - Polaris (NYSE:PII) Renewable Energy Inc. (TSX:PIF), a company specializing in renewable energy projects in Latin America and the Caribbean, has announced a quarterly dividend of US$0.15 per common share. Shareholders on record by the close of business on February 17th will receive the dividend payment on February 28th.
The declared dividend is classified as an "eligible dividend" for Canadian federal, provincial, and territorial income tax purposes. Polaris Renewable Energy’s board of directors has expressed its commitment to maintaining a quarterly dividend and will consider potential increases based on the company’s future performance.
Polaris Renewable Energy operates a diverse portfolio of renewable energy assets, including a geothermal plant with an output of approximately 82 megawatts, four run-of-river hydroelectric plants producing around 40 megawatts, three solar photovoltaic projects with a combined capacity of roughly 35 megawatts, and a wind park of 26 megawatts following the acquisition in Puerto Rico.
The press release contains forward-looking statements regarding the company’s future events, performance, and financial and business prospects. However, these are subject to various risks, uncertainties, and other factors, including the general business environment, political stability, and the company’s ability to continue as a going concern. The company has cautioned readers not to place undue reliance on these forward-looking statements, which are based on management’s beliefs and information available at the time.
This dividend declaration is based on a press release statement from Polaris Renewable Energy Inc. and reflects the company’s current financial health and strategy to reward its shareholders.
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