AltaGas Ltd. Announces Results of Series G Preferred Share Conversions and Listing of Series H Preferred Shares

Source Press Release
Company AltaGas Ltd. 
Tags Strategy - Corporate
Date September 30, 2019

AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that 1,114,177 of its 8,000,000 Cumulative Redeemable Five-Year Fixed Rate Reset Preferred Shares, Series G (the "Series G Preferred Shares") (TSX:ALA.PR.G) were tendered for conversion into Cumulative Floating Rate Preferred Shares, Series H (the "Series H Preferred Shares"). As a result of the conversion AltaGas has 6,885,823 Series G Preferred Shares and 1,114,177 Series H Preferred Shares issued and outstanding.  The Series G Preferred Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol ALA.PR.G. The Series H Preferred Shares will begin trading on the TSX today under the symbol ALA.PR.H.

The Series G Preferred Shares will continue to pay on a quarterly basis, for the five-year period beginning on September 30, 2019, as and when declared by the Board of Directors of AltaGas, a fixed dividend based on an annual fixed dividend rate of 4.242 percent.

The Series H Preferred Shares will pay a floating quarterly dividend for the five-year period beginning on September 30, 2019, as and when declared by the Board of Directors of AltaGas. The floating quarterly dividend rate for the Series H Preferred Shares for the first quarterly floating rate period (being the period from September 30, 2019 to but excluding, December 31, 2019) is 4.698 percent and will be reset every quarter.

For more information on the terms of, and risks associated with an investment in, the Series G Preferred Shares and the Series H Preferred Shares, please see the prospectus supplement dated June 25, 2014 which is available on SEDAR at .

AltaGas is a leading North American energy infrastructure company with a focus on regulated Utilities, Midstream and Power. AltaGas creates value by growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: .

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd