Polaris Infrastructure declares quarterly dividend

TORONTO, May 8, 2018 /CNW/ - Polaris Infrastructure Inc. (TSX: PIF) ("Polaris Infrastructure" or the "Company"), a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to announce that its board of directors has declared a quarterly dividend of US$0.15 per common share outstanding. This dividend will be paid on May 28, 2018 to shareholders of record at the close of business on May 16, 2018. 

The $0.15 dividend per share related to the first quarter of 2018 equates to approximately a 54% payout ratio, which reflects the reduced revenue in the first quarter of 2018 stemming from planned turbine maintenance. Adjusting for the estimated impact of the planned turbine maintenance, payout ratio for the first quarter of 2018 falls to approximately 41%.

The board of directors of Polaris Infrastructure remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward.

About Polaris Infrastructure

Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. Currently, the Company operates a 72MW geothermal project located in Nicaragua.

SOURCE Polaris Infrastructure Inc.