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CUC announces declaration of dividend on class A ordinary shares.

Caribbean Utilities Company, Ltd. (TSX:CUP.U) (“CUC”or “the Company”) announced today that the Board of Directors has declared a dividend of US$0.175 per Class A Ordinary Share, or an annualized dividend of US$0.70 per share. The
dividend will be payable on March 15, 2021 to shareholders of record on March 1, 2021.

CUC provides electricity to Grand Cayman, Cayman Islands, under a non-exclusive Electricity Generation Licence expiring in 2039 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028. Further information is available at www.cuc-cayman.com.

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