CARIBBEAN UTILITIES COMPANY, LTD ANNOUNCES DIVIDEND DECLARATION ON CLASS A COMMON SHARES

CARIBBEAN UTILITIES COMPANY, LTD. CLASS A COMMON SHARES ARE LISTED FOR TRADING UNITED STATES FUNDS ON THE TORONTO STOCK TO EXCHANGE.

GRAND CAYMAN, CAYMAN ISLANDS, May 9, 2022 /CNW/ – Caribbean Utilities Company, Ltd. CHOPPED OFF (“CUC” or “the Company”) today announced that the Board of Directors has declared a dividend of $0.175 per Class A Ordinary Share, i.e. an annualized dividend of $0.70 per share. The dividend will be payable on June 15, 2022 to shareholders of record on June 1, 2022.

CUC provides electricity to Grand Cayman, Cayman Islandsunder a non-exclusive power generation license expiring in 2039 and an exclusive power transmission and distribution license expiring in 2028. Further information is available at www.cuc-cayman.com.

Caribbean Utilities Company, Ltd. (“CUC” or “the Company”) includes forward-looking statements from time to time in its press releases, filings with Canadian securities regulators, reports to shareholders and other communications. Forward-looking statements include statements that are predictive in nature, depend on future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “intends”, “target”, “projects”, “forecasts”, “schedule”, or their negative versions and other similar expressions, or future or conditional verbs such as “may”, “will”, “should” , “would” and “could”. Forward-looking statements are based on underlying assumptions and the beliefs, estimates and opinions of management, and are subject to certain risks and uncertainties surrounding future expectations generally, which may cause actual results to differ from plans. , targets and estimates. These risks and uncertainties include, but are not limited to, operational, general economic, market and business conditions, regulatory developments and weather conditions. CUC cautions readers that actual results may differ materially from those expected if certain risks or uncertainties materialize or underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans regarding the future. Readers are cautioned that this information may not be suitable for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Caribbean Utilities Company, Ltd.

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