CALGARY, AB, Dec. 3, 2021 /CNW/ - AltaGas Ltd. ("AltaGas"
or the "Company") (TSX: ALA) today announced that the
Company's Board of Directors have approved a six percent increase
to its annual common share dividends ($1.06 per common share annually) for the 2022
calendar year. Concurrently, AltaGas is moving from a monthly to a
quarterly payment schedule with dividends expected to be made in
March, June, September and December of the 2022 calendar year and
paid on a quarterly basis at the rate of $0.265 per common share. Subject to approval of
the board of directors, the first quarterly dividend of
$0.265 per common share ($1.06 per common share annually) is expected to
be effective for the March dividend that will be paid on
March 31, 2022, to common
shareholders of record on March 16,
2022. Monthly dividend payments will continue until the end
of 2021. The December dividend of $0.0833 per common share will be paid on
December 31, 2021, to common
shareholders of record on December
22, 2021. These dividends are eligible dividends for
Canadian income tax purposes.
CEO MESSAGE
"The six percent dividend increase builds upon our prior year
dividend increase and reflects the success related to the
purposeful actions we have taken over the past number of years to
reposition the Company and our confidence in AltaGas being able to
deliver continued earnings growth in the years ahead. We believe
the six percent increase balances the Company's desire to return
more cash to shareholders with our focus on continuing to
de-leverage the balance sheet and fund the strong organic growth
opportunities that are on the horizon. We look forward to
discussing our strategic priorities and growth plans at our 2021
Investor Day on December 15,
2021."
2021 INVESTOR DAY
Time:
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December 15, 2021:
8:00 a.m. MT (10:00 a.m. ET or 15:00 GMT London)
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Webcast
Registration:
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Link
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Dial-in:
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U.S. and Canada Toll
Free: (844) 776-0516
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International: (646)
632-1756
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Passcode:
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7197381
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The webcast, presentations and other materials will be available
shortly after the conclusion of the event on AltaGas' website at
https://www.altagas.ca/invest/events-and-presentations.
ABOUT ALTAGAS
AltaGas is a leading North American energy infrastructure
Company that connects NGLs and natural gas to domestic and global
markets. The Company operates a diversified, lower-risk,
high-growth Utilities and Midstream business that is focused on
delivering resilient and durable value for its stakeholders.
For more information visit www.altagas.ca or reach out to one of
the following:
Jon Morrison
Senior
Vice President, Investor Relations & Corporate Development
Jon.Morrison@altagas.ca
Adam McKnight
Director,
Investor Relations
Adam.McKnight@altagas.ca
Investor Inquiries
1-877-691-7199
investor.relations@altagas.ca
Media Inquiries
1-403-206-2841
media.relations@altagas.ca
FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements. Words
such as "will", "continued", "ongoing", "believe", "opportunities"
" and similar expressions suggesting future events or future
performance, as they relate to the Corporation or any affiliate of
the Corporation, are intended to identify forward-looking
statements. In particular, this news release contains
forward-looking statements with respect to, among other things,
the expected dividend payments and dates of payment,
expected growth, earnings durability, the timing of Investor Day
webcast, replay and archiving, and the contents of the
presentation.
These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. Such statements reflect AltaGas'
current views with respect to future events based on certain
material factors and assumptions are subject to certain risks and
uncertainties, including without limitation, changes in market,
competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public
disclosure documents.
Many factors could cause AltaGas' actual results, performance
or achievements to vary from those described in this news release,
including, without limitation, those listed above. These
factors should not be construed as exhaustive. Should one or more
of these risks or uncertainties materialize, or should assumptions
underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this news
release, and such forward-looking statements, should not be unduly
relied upon. Such statements speak only as of the date of this news
release. AltaGas does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required by law. The forward-looking statements contained in this
news release are expressly qualified by this cautionary
statement.
SOURCE AltaGas Ltd.