Capstone Infrastructure Corp. (TSE:CSE-A) applicable dividend rates for its cumulative five-year rate-reset preferred shares, Series A, and cumulative floating-rate preferred shares, Series B, will take effect on July 31, the company said on Monday.

With respect to any Series A shares that remain outstanding after Aug. 2, 2016 holders of Series A shares will be entitled to receive quarterly fixed cumulative preferential cash dividends, if, as and when declared by the board of directors of Capstone.

Capstone Infrastructure Corporation, formerly Macquarie Power and Infrastructure Corporation, is engaged in power infrastructure.

The dividend rate for the five-year period from and including July 31, 2016, to but excluding July 31, 2021, will be 3.271% per annum, being equal to the five-year government of Canada bond yield determined as of today plus 2.71%, in accordance with the terms of the Series A shares.

With respect to any Series B shares that may be issued on the conversion date, holders thereof will be entitled to receive quarterly floating-rate cumulative preferential cash dividends, if, as and when declared by the board of directors of Capstone. The dividend rate for the three-month period from and including July 31, 2016, to but excluding Oct. 31, 2016, will be 3.204% per annum, being equal to the three-month government of Canada treasury bill yield per annum determined as of today plus 2.71%, with the amount of any quarterly dividend calculated based on the actual number of days in such quarterly period divided by 365, in accordance with the terms of the Series B shares.

Beneficial owners of Series A shares who wish to exercise their conversion right should communicate with their broker or other nominee to ensure their instructions are followed so that the registered holder of the Series A shares can meet the deadline to exercise such conversion right, which is 5 p.m. ET on July 18.