From the Desk Of Irwin Michael – May 27, 2016

Algonquin Power & Utilities Corp. owns and has interests in a diverse portfolio of renewable power generation and infrastructure assets across North America. Some of these projects include thermal energy facilities, water distribution, and waste-water facilities. The ABC Funds recently purchased common shares of Algonquin Power via the recent share sale of Emera Corporation’s 50.126 million share ownership of Algonquin at $10.85. Coupled with its 4.8% dividend yield, it is our opinion that this transaction has made the company a more attractive investment story.

Irwin A. Michael, President
I.A. Michael Investment Counsel Ltd.