Capstone Infrastructure Corporation Reports First Quarter 2020 Results and Declares a Quarterly Dividend

TORONTO, May 13, 2020 (GLOBE NEWSWIRE) -- Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the "Corporation" or "Capstone") today reports and filed its results for the first quarter ended March 31, 2020. The Corporation's first quarter 2020 Management's Discussion and Analysis ("MD&A") and unaudited interim consolidated financial statements are available at www.capstoneinfrastructure.com and on SEDAR at www.sedar.com. Capstone's MD&A details the "Results of Operations" and provides a "Financial Position Review" for the quarter ended March 31, 2020.

Dividend Declarations

The board of directors today declared a quarterly dividend on the Corporation's Cumulative Five-Year Rate Reset Preferred Shares, Series A (the "Preferred Shares") of $0.2044 per Preferred Share to be paid on or about July 31, 2020 to shareholders of record at the close of business on July 15, 2020. The dividend on the Preferred Shares covers the period from April 30, 2020 to July 30, 2020.

The dividends paid by the Corporation on its Preferred Shares are designated "eligible" dividends for the purposes of the Income Tax Act (Canada). An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

About Capstone Infrastructure Corporation

Capstone's mission is to power society, protect the environment, contribute to communities, and create value for its shareholders. Capstone owns and operates, approximately net 541 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.

Caution Regarding Forward-Looking Statements

Certain of the statements contained within this document are forward-looking and reflect management's expectations regarding the future growth, results of operations, performance and business of the Corporation based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as "anticipate", "continue", "could", "expect", "may", "will", "intend", "estimate", "plan", "believe" or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions, including the material assumptions set out in the management's discussion and analysis of the results of operations and the financial condition of the Corporation ("MD&A") for the year ended December 31, 2019, as updated in subsequently filed MD&A of the Corporation (such documents are available under the Corporation's SEDAR profile at www.sedar.com).

Although the Corporation believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements due to inherent risks and uncertainties. For a comprehensive description of these risk factors, please refer to the "Risk Factors" section of the Corporation's Annual Information Form dated March 23, 2020, as supplemented by disclosure of risk factors contained in any subsequent annual information form, material change reports (except confidential material change reports), business acquisition reports, interim financial statements, interim management's discussion and analysis and information circulars filed by the Corporation with the securities commissions or similar authorities in Canada (which are available under the Corporation's SEDAR profile at www.sedar.com).

The assumptions, risks and uncertainties described above are not exhaustive and other events and risk factors could cause actual results to differ materially from the results and events discussed in the forward-looking statements. The forward-looking statements within this document reflect current expectations of the Corporation as at the date of this document and speak only as at the date of this document. Except as may be required by applicable law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

For further information, please contact:

Andrew Kennedy
Chief Financial Officer
(416) 649-1300
[email protected]