Algonquin Power & Utilities Corp. – Consolidated Financial Statements ALGONQUIN POWER & UTILITIES CORP.  Notes to the Consolidated Financial Statements  December 31, 2012 and 2011   (in thousands of Canadian dollars except as noted and amounts per share)  14.  Shareholders’ capital (continued)  (c)  Share-based compensation (continued)  iv) Performance share units (continued)  A summary of the PSUs follows; none of which are exercisable as at December 31, 2012:  15. Accumulated other comprehensive loss 16. Cash dividends All dividends of the Company are made on a discretionary basis as determined by the Board of  the Company. For the year ended December 31, 2012, the Company declared dividends to  shareholders on common shares totaling $50,193 of which $42,850 were cash dividends (2011 -  $32,426 of which were cash dividends) or $0.295 per common share (2011 - $0.24 per common  share). The Board declared a dividend on the Company’s common shares of $0.0775 per share  payable on January 15, 2013 to the shareholders of record on December 31, 2012 . On December 31, 2012, an initial dividend of $0.1603 per share totaling $769, Series A, was paid in  cash to Preferred Share, Series A holders of record on December 17, 2012. 2012 Annual Report 118 2012 2011 Foreign currency cumulative translation  adjustment  $ (105,959) $ (96,462) Unrealized gain on cash flow hedges  3,593 - Pension and post-retirement actuarial loss (2,501) (48) Total $ (104,867) $ (96,510) Number of awards Weighted  Average Grant-Date  Fair Value Weighted  Average Remaining  Contractual  Term (years)  Aggregate  intrinsic  value January 1, 2011  - $ -  -   - Granted 21,123 5.62 2.0 118,649 December 31, 2011  21,123 $ 5.62 2.0 135,610 Granted, including dividends  68,982 6.78 1.3 467,518 Forfeited (6,622) 5.62 1.5 (37,196) December 31, 2012  83,483 $ 6.58 1.8 571,025 Accumulated other comprehensive loss is comprised of the following balances, net of tax: