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The Canada-based utility has operations in the U.S. and Canada, and dropped its dividend distribution 66% in March 2013 to "establish a lower and more sustainable Payout Ratio that balances yield and growth."
The monthly dividend will be payable on August 30 to Atlantic Power shareholders of record on July 31, with non-Canadians subject to a 15% to 25% withholding tax rate.
Despite the decrease, a subsequent drop in stock price has kept its overall yield significantly above average. At its current $4.41 share price, the utility's annual dividend yield clocks in around 8.7%.