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Thursday, October 6, 2022

Maritime Logistics Professional

Posted by September 16, 2014

Atlantic Power Slashes Dividend, Replaces CEO

Power producer Atlantic Power Corp slashed its dividend by 70 percent and asked its chief executive to step down as part of a strategic review process.

The company said it appointed Ken Hartwick, director of the board, as a replacement for Barry Welch.

Atlantic Power cut its annual dividend to 12 Canadian cents per share from 40 Canadian cents.

The Boston, Massachusetts-based company, which has been reviewing its businesses, also said it would not sell itself at this time.

 

Reporting By Shubhankar Chakravorty

Massachusetts