Canadian Utilities Limited Eligible Dividends

CALGARY, ALBERTA--(Marketwired - Oct. 13, 2016) - Canadian Utilities Limited CU CU

The Board of Directors of Canadian Utilities Limited has declared the following quarterly dividends:

Shares                 TSX Stock     Dividend     Record Date  Payment Date 
                        Symbol     Per Share ($)    (2016)        (2016)    
----------------------------------------------------------------------------
Class A non-voting        CU          0.3250        08-Nov        01-Dec    
Class B common           CU.X         0.3250        08-Nov        01-Dec    
Series Y 4.00%          CU.PR.C       0.2500        08-Nov        01-Dec    
Series AA 4.90%         CU.PR.D       0.30625       08-Nov        01-Dec    
Series BB 4.90%         CU.PR.E       0.30625       08-Nov        01-Dec    
Series CC 4.50%         CU.PR.F       0.28125       08-Nov        01-Dec    
Series DD 4.50%         CU.PR.G       0.28125       08-Nov        01-Dec    
Series EE 5.25%         CU.PR.H      0.328125       08-Nov        01-Dec    
Series FF 4.50%         CU.PR.I       0.28125       08-Nov        01-Dec    

These dividends are eligible dividends within the meaning of the Income Tax Act (Canada).

Canadian Utilities Limited has a Dividend Reinvestment Plan (DRIP) available to eligible holders of Class A non-voting shares and Class B common shares. Eligible shareholders may reinvest the cash dividends paid on their common shares to purchase new Class A non-voting shares from treasury at a two percent discount to the volume weighted average price as defined in the DRIP. For more information visit: www.canadianutilities.com or the CST Trust Company website at www.canstockta.com.

With nearly 5,500 employees and assets of approximately $18 billion, Canadian Utilities Limited is an ATCO company. ATCO is a diversified global corporation delivering service excellence and innovative business solutions in Structures & Logistics (workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management); Electricity (electricity generation, transmission, and distribution); Pipelines & Liquids (natural gas transmission, distribution and infrastructure development, energy storage, and industrial water solutions); and Retail Energy (electricity and natural gas retail sales). More information can be found at www.canadianutilities.com.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.

The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.

The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

FOR FURTHER INFORMATION PLEASE CONTACT:
Media & Investor Inquiries:
B.R. (Brian) Bale
Senior Vice President & Chief Financial Officer
403-292-7502