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Capital Power books higher Q2 adjusted EBITDA, boosts dividend

Capital Power Corp. on July 30 reported second-quarter 2018 adjusted EBITDA of C$223 million, up from C$96 million in the corresponding quarter of 2017.

Adjusted funds from operations increased year over year to C$76 million, or 74 Canadian cents per share, from C$44 million, or 45 cents per share.

The company books normalized earnings attributable to common shareholders of C$23 million, or 22 cents per share, from C$26 million, or 27 cents per share, in the prior-year period.

The S&P Capital IQ normalized EPS estimate for the quarter was 31 cents per share.

Second quarter net income attributable to common shareholders was C$70 million, or 57 cents per share, down from C$109 million, or C$1.03 per share, in the corresponding quarter of 2017.

Revenues and other income for second-quarter 2018 was C$363 million, compared with C$201 million in the same period of 2017.

The company increased its quarterly dividend to 44.75 cents per share, from 41.75 cents per share, and is payable Oct. 31 to shareholders of record as of Sept. 28.