Press Releases
10/12/2001
International Power Receives 2001 Interim Dividend Payment From Hubco
(London - 10 December 2001) International Power today received from The Hub Power Company (HUBCO) a GBP 5 million interim dividend payment for the year ended 30 June 2001. The interim dividend is the first paid to HUBCO shareholders since April 1998. This dividend was declared by HUBCO in May 2001 and approved for distribution by lenders in October. International Power owns a 25.7% equity interest in HUBCO.
"This dividend payment proves a sustainable commercial relationship is now in place between HUBCO and its investors," said Peter Giller, International Power's Chief Executive Officer.
For further information:
| Media contact: (Europe) |
Aarti Singhal +44 207-320-8681 |
| Media & Investor contact: (United States) |
Paul Parshley +1 508-922-3124 |
Notes to editors
In December 2000, a Settlement Agreement was reached by and between the Islamic Republic of Pakistan, the Pakistan Water and Power Development Authority (WAPDA) and The Hub Power Company Limited (HUBCO) to resolve a three-year tariff dispute over electricity produced at the 1,300 megawatt (net) Hub Power Project.
International Power plc is one of the world's leading independent electric generating companies with around 8,850 MW (net) in operation, 2,350 MW (net) under construction and approximately 8,000 MW (net) in advanced development. Among the countries where International Power has operating facilities are Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Turkey, Malaysia, Pakistan, and Thailand. International Power was created from the demerger of National Power, and its shares began trading independently on the London Stock Exchange and as ADRs on the New York Stock Exchange on 2 October 2000. The ticker symbol on both stock exchanges is "IPR".
