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## ALGONQUIN POWER & UTILITIES CORP. 

Notes to the Consolidated Financial Statements December 31, 2012 and 2011 

 (in thousands of Canadian dollars except as noted and amounts per share) 

## 14. Shareholders’ capital (continued) 

## (c) Share-based compensation (continued) 

iv) Performance share units (continued) 

A summary of the PSUs follows; none of which are exercisable as at December 31, 2012: 

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## 15. Accumulated other comprehensive loss 

## 16. Cash dividends 

Accumulated other comprehensive loss is comprised of the following balances, net of tax: 

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All dividends of the Company are made on a discretionary basis as determined by the Board of the Company. For the year ended December 31, 2012, the Company declared dividends to shareholders on common shares totaling $50,193 of which $42,850 were cash dividends (2011 - $32,426 of which were cash dividends) or $0.295 per common share (2011 - $0.24 per common share). The Board declared a dividend on the Company’s common shares of $0.0775 per share payable on January 15, 2013 to the shareholders of record on December 31, 2012 . 

On December 31, 2012, an initial dividend of $0.1603 per share totaling $769, Series A, was paid in cash to Preferred Share, Series A holders of record on December 17, 2012. 

