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CANADIAN CU UTILITIES LIMITED An ATCO Company April 29 , 2021 News Release CANADIAN UTILITIES REPORTS FIRST QUARTER 2021 EARNINGS CALGARY , Alberta - Canadian Utilities Limited ( TSX : CU , CU.X ) Canadian Utilities today announced first quarter 2021 adjusted earnings of $ 191 million , or $ 0.70 per share , $ 12 million or $ 0.04 per share higher compared to $ 179 million , or $ 0.66 per share , in the first quarter of 2020 . Higher earnings were mainly due to Utilities ' cost efficiencies and growth in the asset base , as well as earnings from ongoing transition work related to the long - term contract to operate Puerto Rico's electricity transmission and distribution system . Higher earnings were also due to demand for natural gas storage services and recovered business development costs in Energy Infrastructure . Earnings attributable to equity owners of the Company were $ 141 million in 2021 , $ 19 million lower compared to 2020. Earnings attributable to equity owners of the Company include timing adjustments related to rate - regulated activities , dividends on equity preferred shares of the Company , unrealized gains or losses on mark - to - market forward and swap commodity contracts , one - time gains and losses , significant impairments , and items that are not in the normal course of business or a result of day - to - day operations . These items are not included in adjusted earnings . RECENT DEVELOPMENTS • Invested $ 230 million in capital projects , of which 96 per cent was invested in regulated utilities . Filed an application with the Alberta Utilities Commission to postpone Canadian Utilities ' electricity and natural gas distribution utility rate increases for 2021 and collect the deferred amounts beginning in 2023. This application aligns with our long - standing practice of supporting the communities we have the privilege to serve . The current economic situation in Alberta , including hardships faced by customers due to the COVID - 19 pandemic , is the rationale for the rate freeze . Declared a second quarter dividend of 43.98 cents per share or $ 1.76 per Class A non- voting and Class B common share on an annualized basis .