Preferred Shares

All dividends paid on Canadian Utilities Limited shares on or after January 1, 2006 are designated "eligible dividends" for Canadian income tax purposes unless Canadian Utilities Limited indicates otherwise. You should consult your tax advisor for advice with respect to the income tax consequences of receiving eligible dividends. Further information regarding the taxation of eligible dividends is also available from the Canada Revenue Agency.


 



Cumulative Redeemable Second Preferred Shares Series Y

Price:
» $25.00 per share par value to yield 4.00% per annum

TSX Symbol:
» CU.PR.C

Shares Outstanding as at September 21, 2011:
» 13,000,000

Click here to view the Key Terms:

The Cumulative Redeemable Second Preferred Shares Series Y were issued on September 13, 2011, at a price of $25.00 per share.


Holders are entitled to receive fixed cumulative preferential cash dividends, payable quarterly for an initial period of five and a half years, as and when declared by the Board of Directors of the Corporation, at an annual rate of $1.00 per share, to yield 4.00% annually. Thereafter, the dividend rate will reset every five years to the then current 5-Year Government of Canada bond yield plus 2.40%. On June 1, 2017, and on June 1 of every fifth year thereafter, the Corporation may redeem the Series Y Preferred Shares in whole or in part at par.


Holders may elect to convert any or all of their Series Y Preferred Shares into an equal number of Cumulative Redeemable Second Preferred Shares Series Z on June 1, 2017, and on June 1 of every fifth year thereafter. Holders of the Series Z Preferred Shares will be entitled to receive quarterly floating rate cumulative preferential cash dividends, as and when declared by the Board of Directors, equal to the then current 3-month Government of Canada Treasury Bill yield plus 2.40%. On June 1 of every fifth year following conversion, the Corporation may redeem the Series Z Preferred Shares in whole or in part at par; on any other date, the Corporation may redeem the Series Z Preferred Shares in whole or in part by the payment of $25.50 for each share to be redeemed.

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series Y (205 KB)



Cumulative Redeemable Second Preferred Shares Series AA

Price:
» $25.00 per share par value to yield 4.90% per annum

TSX Symbol:
» CU.PR.D

Shares Outstanding as at June 18, 2012:
» 6,000,000

Click here to view the Key Terms:

The Cumulative Redeemable Second Preferred Shares Series AA (the “Series AA Preferred Shares”) of Canadian Utilities Limited (the “Corporation”) will be entitled to fixed cumulative preferential cash dividends, if, as and when declared by the Board of Directors of the Corporation, at a rate of $1.225 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.


On or after September 1, 2017, the Corporation may, at its option on not less than 30 nor more than 60 days’ prior notice, redeem for cash the Series AA Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing September 1, 2017, at $25.75 per share if redeemed during the 12 months commencing September 1, 2018, at $25.50 per share if redeemed during the 12 months commencing September 1, 2019, at $25.25 per share if redeemed during the 12 months commencing September 1, 2020, and at $25.00 per share if redeemed on and after September 1, 2021, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series AA (309 KB)



Cumulative Redeemable Second Preferred Shares Series BB

Price:
» $25.00 per share par value to yield 4.90% per annum

TSX Symbol:
» CU.PR.E

Shares Outstanding as at July 5, 2012:
» 6,000,000

Click here to view the Key Terms:

The Cumulative Redeemable Second Preferred Shares Series BB (the “Series BB Preferred Shares”) of Canadian Utilities Limited (the “Corporation”) will be entitled to fixed cumulative preferential cash dividends, if, as and when declared by the Board of Directors of the Corporation, at a rate of $1.225 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.


On or after September 1, 2017, the Corporation may, at its option on not less than 30 nor more than 60 days’ prior notice, redeem for cash the Series BB Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing September 1, 2017, at $25.75 per share if redeemed during the 12 months commencing September 1, 2018, at $25.50 per share if redeemed during the 12 months commencing September 1, 2019, at $25.25 per share if redeemed during the 12 months commencing September 1, 2020, and at $25.00 per share if redeemed on and after September 1, 2021, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series BB (313 KB)



Cumulative Redeemable Second Preferred Shares Series CC

Price:
» $25.00 per share par value to yield 4.5% per annum

TSX Symbol:
» CU.PR.F

Shares Outstanding as at March 19, 2013:
» 7,000,000

Click here to view the Key Terms:

The holders of the Cumulative Redeemable Second Preferred Shares Series CC (the "Series CC Preferred Shares") of Canadian Utilities Limited (the "Corporation") will be entitled to receive, as and when declared by the board of directors of the Corporation (the "Board of Directors"), fixed cumulative preferential cash dividends at a rate of $1.125 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.

On or after June 1, 2018, the Corporation may, at its option on not less than 30 nor more than 60 days prior notice, redeem for cash the Series CC Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing June 1, 2018, at $25.75 per share if redeemed during the 12 months commencing June 1, 2019, at $25.50 per share if redeemed during the 12 months commencing June 1, 2020, at $25.25 per share if redeemed during the 12 months commencing June 1, 2021, and at $25.00 per share if redeemed on and after June 1, 2022, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.

 

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series CC ( 311 KB)


Cumulative Redeemable Second Preferred Shares Series DD

Price:
» $25.00 per share par value to yield 4.5% per annum

TSX Symbol:
» CU.PR.G

Shares Outstanding as at May 15, 2013:
» 9,000,000

Click here to view the Key Terms:

The holders of the Cumulative Redeemable Second Preferred Shares Series DD (the "Series DD Preferred Shares") of Canadian Utilities Limited (the "Corporation") will be entitled to receive, as and when declared by the board of directors of the Corporation (the "Board of Directors"), fixed cumulative preferential cash dividends at a rate of $1.125 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.

On or after September 1, 2018, the Corporation may, at its option on not less than 30 nor more than 60 days prior notice, redeem for cash the Series DD Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing September 1, 2018, at $25.75 per share if redeemed during the 12 months commencing September 1, 2019, at $25.50 per share if redeemed during the 12 months commencing September 1, 2020, at $25.25 per share if redeemed during the 12 months commencing September 1, 2021, and at $25.00 per share if redeemed on and after September 1, 2022, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.

 

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series DD ( 309 KB)


Cumulative Redeemable Second Preferred Shares Series EE

Price:
» $25.00 per share par value to yield 5.25% per annum

TSX Symbol:
» CU.PR.H

Shares Outstanding as at Aug 7, 2015:
» 5,000,000

Click here to view the Key Terms:

The holders of the Cumulative Redeemable Second Preferred Shares Series EE (the "Series EE Preferred Shares") of Canadian Utilities Limited (the "Corporation") will be entitled to receive, as and when declared by the board of directors of the Corporation (the "Board of Directors"), fixed cumulative preferential cash dividends at a rate of $1.3125 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year.

On or after September 1, 2020, the Corporation may, at its option on not less than 30 nor more than 60 days prior notice, redeem for cash the Series EE Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing September 1, 2020, at $25.75 per share if redeemed during the 12 months commencing September 1, 2021, at $25.50 per share if redeemed during the 12 months commencing September 1, 2022, at $25.25 per share if redeemed during the 12 months commencing September 1, 2023, and at $25.00 per share if redeemed on and after September 1, 2024, in each case together with all accrued and unpaid dividends to but excluding the date of redemption.

 

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series EE ( 323 KB)

Cumulative Redeemable Second Preferred Shares Series FF

Price:
» $25.00 per share par value to yield 4.5% per annum

TSX Symbol:
» CU.PR.I

Shares Outstanding as at Sept 24, 2015:
» 10,000,000

Click here to view the Key Terms:

The holders of the Cumulative Redeemable Second Preferred Shares Series FF (the "Series FF Preferred Shares") of Canadian Utilities Limited (the "Corporation") will be entitled to receive, as and when declared by the board of directors of the Corporation (the "Board of Directors"), fixed cumulative preferential cash dividends for the Initial Fixed Rate Period (as defined herein) from and including the closing date of this offering to but excluding December 1, 2020, at an annual rate of $1.125 per Series FF Preferred Share, payable quarterly on the first day of March, June, September and December in each year.

For each five year period after the Initial Fixed Rate Period (each, a "Subsequent Fixed Rate Period"), the holders of the Series FF Preferred Shares shall be entitled to receive, as and when declared by the Board of Directors, fixed cumulative preferential cash dividends, payable quarterly on the first day of each of March, June, September and December in each year, in the amount per share determined by multiplying one quarter of the Annual Fixed Dividend Rate (as defined herein) for such Subsequent Fixed Rate Period by $25.00. The Annual Fixed Dividend Rate for each ensuing Subsequent Fixed Rate Period will be determined by the Corporation on the Fixed Rate Calculation Date (as defined herein) and will be equal to the sum of the Government of Canada Yield (as defined herein) on the Fixed Rate Calculation Date plus a spread of 3.69% (the "Spread"), provided that, in any event, such rate shall not be less than 4.50%.

 

Prospectus:
» Cumulative Redeemable Second Preferred Shares Series FF ( 381 KB)


CU Inc. currently has preferred shares outstanding. See CU Inc. Preferred Shares for more information.  

 



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