- Increases dividend to $0.42 per Class A common share for Q3 2017 -
SAN FRANCISCO, California, August 8, 2017 - Pattern Energy Group Inc. (the “Company” or “Pattern Energy”) (NASDAQ & TSX: PEGI) today announced its financial results for the 2017 second quarter.
(Comparisons made between fiscal Q2 2017 and fiscal Q2 2016 results, unless otherwise noted)
“Our high-quality fleet continues to perform well which allowed us to deliver a strong quarter with CAFD in line with our expectation and on track for our 2017 CAFD guidance(1),” said Mike Garland, President and CEO of Pattern Energy. “We have designed the business and deployed a strategy to produce and grow stable, sustainable CAFD. Our announcements in June support and expand on this strategy. The investment in development has increased our opportunity set and improved our alignment with our development affiliate. This relationship has been validated by the participation of PSP Investments, a pension investment manager that is a recognized leader in renewable energy investments. The net result of these major initiatives is that Pattern Energy is stronger today, with access to a larger pipeline, higher returns through our direct involvement in the development business, improved alignment with both the development business and our new shareholder, PSP Investments, through the co-investment relationship, as well as access to capital to fund growth without relying solely on debt or equity.”
See attached press release for full details: Pattern_Energy_Q2_earnings_press_release.pdf
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