<SEC-DOCUMENT>0001144204-16-103670.txt : 20160519
<SEC-HEADER>0001144204-16-103670.hdr.sgml : 20160519
<ACCEPTANCE-DATETIME>20160519165603
ACCESSION NUMBER: 0001144204-16-103670
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20160519
DATE AS OF CHANGE: 20160519
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: ALGONQUIN POWER & UTILITIES CORP.
CENTRAL INDEX KEY: 0001174169
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911]
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-85003
FILM NUMBER: 161663798
BUSINESS ADDRESS:
STREET 1: 354 DAVIS ROAD
CITY: OAKVILLE
STATE: A6
ZIP: L6J2X1
BUSINESS PHONE: 0000000000
MAIL ADDRESS:
STREET 1: 354 DAVIS ROAD
CITY: OAKVILLE
STATE: A6
ZIP: L6J2X1
FORMER COMPANY:
FORMER CONFORMED NAME: ALGONQUIN POWER INCOME FUND
DATE OF NAME CHANGE: 20020523
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: EMERA INC
CENTRAL INDEX KEY: 0001127248
IRS NUMBER: 868143132
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: 1223 LOWER WATER ST., B-6TH FLOOR
STREET 2: P.O. BOX 910
CITY: HALIFAX
STATE: A5
ZIP: B3J 3S8
BUSINESS PHONE: 902-428-6494
MAIL ADDRESS:
STREET 1: 1223 LOWER WATER ST., B-6TH FLOOR
STREET 2: P.O. BOX 910
CITY: HALIFAX
STATE: A5
ZIP: B3J 3S8
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>v440525_sc13da3.htm
<DESCRIPTION>AMENDMENT NO. 3
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13D/A</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 3)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Algonquin Power & Utilities Corp.</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name of Company)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Common Shares, No Par Value</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Title of Class of Securities)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>015857105</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(CUSIP Number)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Stephen D. Aftanas</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>5151 Terminal Road</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Halifax, Nova Scotia</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>B3J 1A1</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(902) 428-6096</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name, Address and Telephone Number of
Persons Authorized to Receive Notices and Communications)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>May 17, 2016</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Date of Event which Requires Filing
of this Statement)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. <FONT STYLE="font-family: Wingdings">¨</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SCHEDULE 13D </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
<TD STYLE="vertical-align: top; border: black 1pt solid; padding-left: 8pt; font-size: 10pt; width: 26%"><font style="font-size: 10pt">CUSIP No. 015857105</font></td>
<TD STYLE="vertical-align: bottom; padding-left: 0.1in; font-size: 10pt; width: 74%"> </td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
<TD STYLE="width: 3%; border-bottom: black 1pt solid"> </td>
<TD STYLE="width: 6%; border-bottom: black 1pt solid"> </td>
<TD STYLE="width: 10%; border-bottom: black 1pt solid"> </td>
<TD STYLE="width: 81%; border-bottom: black 1pt solid"> </td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 1 </font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">name of reporting
person</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">Emera Incorporated	</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 2</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">(a) <FONT STYLE="font-family: Wingdings">¨</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">(b) <FONT STYLE="font-family: Wingdings">¨</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 3</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><b>SEC USE ONLY</b></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 4</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">SOURCE OF FUNDS (SEE INSTRUCTIONS)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">WC</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 5</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) <font style="font-family: Wingdings">¨</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt"> 6</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">citizenship
or place of organization</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">Nova Scotia,
Canada</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P></td></tr>
<tr>
<TD COLSPAN="2" ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; text-align: center; vertical-align: middle">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shares</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Beneficially</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Owned by</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reporting</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P></td>
<TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.45pt; font-size: 10pt; text-align: left"><font style="font-size: 10pt"> 7 </font></td>
<TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">Sole voting
power</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">12,938,457*</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.45pt; font-size: 10pt; text-align: left"><font style="font-size: 10pt"> 8</font></td>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">Shared voting
power</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">0</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.45pt; font-size: 10pt; text-align: left"><font style="font-size: 10pt"> 9</font></td>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">Sole dispositive
power</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">12,938,457*</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.45pt; font-size: 10pt; text-align: left"> <font style="font-size: 10pt">10</font></td>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"><font style="text-transform: uppercase">Shared dispositive
power</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">0</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt">11</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">12,938,457*</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt">12</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) <font style="font-family: Wingdings">¨</font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-indent: 0.5in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt">13</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">4.75%**</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
<tr style="vertical-align: top">
<TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt"><font style="font-size: 10pt">14</font></td>
<td colspan="3" style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">CO</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in"> </P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD>Represents 12,024,753 subscription receipts (“Subscription
Receipts”) and 913,704 associated dividend entitlements (“Dividend Entitlements”), of Algonquin Power &
Utilities Corp. (the “Issuer”). The Subscription Receipts and associated Dividend Entitlements are convertible into
Common Shares of the Issuer on a one-for-one basis.</TD>
</TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">**</TD><TD>Based on 258,912,456 Common Shares of the Issuer issued
and outstanding as of March 31, 2016 as reported in the Issuer’s Form 6-K, filed with the Securities and Exchange Commission
(the “SEC”) on May 13, 2016, plus the number of Common Shares underlying the Subscription Receipts and Dividend Entitlements
held by the Reporting Person.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"> </P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Item 1. Security and Issuer</U></B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">This Amendment No. 3 (“Amendment No. 3”) to Schedule 13D is being filed with the Securities
& Exchange Commission (the “SEC”) on behalf of Emera Incorporated (the “Reporting Person”), relating
to the common shares, without par value (the “Common Shares”) of Algonquin Power & Utilities Corp., a corporation
existing under the laws of Canada (the “Issuer”). This Amendment No. 3 amends and supplements the initial statement
on Schedule 13D (the “Original Schedule 13D”) filed with the SEC on February 20, 2013, as amended and supplemented
by Amendment No. 1 filed with the SEC on March 27, 2013 and Amendment No. 2 filed with the SEC on October 9, 2014. Except as set
forth herein, this Amendment No. 3 does not modify any of the information previously reported by the Reporting Person in the Original
Schedule 13D, Amendment No. 1 or Amendment No. 2. Unless otherwise indicated, all capitalized terms used herein have the meanings
ascribed to them in the Original Schedule 13D.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 3. Source and Amount of Funds or Other
Consideration</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 17, 2016 the Reporting Person sold 50,126,766 Common
Shares in a secondary sale on a bought block trade basis to a syndicate of underwriters, at a purchase price of C$10.85 per Common
Share for aggregate gross proceeds of C$543,875,411.10. As a result of the sale, the Reporting Person disposed of all of the Common
Shares it held. The Reporting Person continues to hold 12,024,753 subscription receipts of the Issuer (“Subscription Receipts”)
and 913,704 associated dividend entitlements (“Dividend Entitlements”) convertible into an aggregate amount of 12,938,457
Common Shares.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 4. Purpose of Transaction</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) The disposition of the Common Shares was undertaken to support
the Reporting Person’s general financing requirements, including the proposed and previously announced purchase of TECO Energy,
Inc.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Subscription Receipts and the Dividend Entitlements are
held for investment purposes only and depending on various factors including, without limitation, the Issuer’s financial
position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions,
the Reporting Person’s business or financial condition, and other factors and conditions the Reporting Person deems appropriate,
the Reporting Person may dispose of all or a portion of the Subscription Receipts and Dividend Entitlements or all or a portion
of the Common Shares into which such Subscription Receipts and such Dividend Entitlements are convertible. Any disposition may
take place over the facilities of the Toronto Stock Exchange or in privately negotiated transactions or otherwise.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)-(j) None.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 5. Interest in Securities of the Issuer</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Reporting Person beneficially
owns 12,024,753 Subscription Receipts and 913,704 Dividend Entitlements. The Subscription Receipts and Dividend Entitlements are
convertible into Common Shares on a one-for-one basis. The Subscription Receipts and Dividend Entitlements represent approximately
4.75% of the Issuer’s issued and outstanding Common Shares (after giving effect to the conversion of the Subscription Receipts
and Dividend Equivalents held by the Reporting Person), based on 258,912,456 Common Shares of the Issuer issued and outstanding
as of March 31, 2016 as reported in the Issuer’s Form 6-K, filed with the SEC on May 13, 2016, plus the number of Common
Shares underlying the Subscription Receipts and Dividend Entitlements held by the Reporting Person.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Reporting Person has
sole voting power and sole dispositive power with regard to the Common Shares, Subscription Receipts and Dividend Entitlements.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD><FONT STYLE="font-size: 10pt">See Item 3.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Not applicable.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD><FONT STYLE="font-size: 10pt">As of May 17, 2016, the
Reporting Person ceased to be the beneficial owner of more than five percent of the Common Shares of the Issuer.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B> </B></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true, complete and correct.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: May 19, 2016</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </P>
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<tr style="vertical-align: top">
<TD> </TD>
<td colspan="2" style="font-size: 10pt"><font style="font-size: 10pt">EMERA INCORPORATED</font></td>
<TD> </TD></tr>
<tr>
<TD STYLE="width: 48%"> </TD>
<TD STYLE="width: 7%"> </td>
<TD STYLE="width: 30%"> </td>
<TD STYLE="width: 15%"> </TD></tr>
<TR>
<TD> </TD>
<TD> </TD>
<TD> </TD>
<TD> </TD></TR>
<tr>
<TD> </TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><font style="font-size: 10pt">By:</font></td>
<TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Stephen D. Aftanas</P></td>
<TD> </TD></tr>
<tr>
<TD> </TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><font style="font-size: 10pt">Name:</font></td>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><font style="font-size: 10pt">Stephen D. Aftanas</font></td>
<TD> </TD></tr>
<tr>
<TD> </TD>
<TD STYLE="vertical-align: top; font-size: 10pt"><font style="font-size: 10pt">Title:</font></td>
<TD STYLE="vertical-align: bottom; font-size: 10pt"><font style="font-size: 10pt">Corporate Secretary</font></td>
<TD> </TD></tr>
</table>
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