Veresen Announces Common Share Dividend for February 2014 and Quarterly Dividends on its Preferred Shares
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CALGARY, Feb. 19, 2014 /CNW/ - Veresen Inc. ("Veresen") (TSX: VSN) today announced that its Board of Directors has declared a cash dividend for February 2014 of $0.0833 per common share. The dividend will be paid on March 21, 2014 to shareholders of record at the close of business on February 28, 2014. This dividend is designated an "eligible dividend" for Canadian income tax purposes.
The dividend is eligible to be reinvested by shareholders, at a 5% discount, in common shares of Veresen under the dividend reinvestment component of the Premium Dividend™ and Dividend Reinvestment Plan of Veresen Inc. ("Plan") to be held for their account under the Plan. No portion of this dividend will be eligible for a premium cash payment under the Premium Dividend™ component of the Plan.
Registered shareholders of Veresen who have not previously enrolled in the Plan and wish to enroll in the Plan with respect to the February 2014 cash dividend and future cash dividends declared by Veresen, must deliver to Computershare Trust Company of Canada, as Plan Agent, a completed enrollment form which is available at www.computershare.com/investorcentrecanada, at or before 5:00 pm (ET) on February 21, 2014. A copy of the enrollment form may also be obtained by calling Computershare Trust Company of Canada at 1-800-564-6253, or from Veresen's website at www.vereseninc.com.
Beneficial shareholders of Veresen who have not previously enrolled in the Plan and wish to participate in the Plan with respect to the February 2014 cash dividend and future cash dividends declared by Veresen, should contact their broker, investment dealer, financial institution or other nominee to provide appropriate enrollment instructions and to ensure any deadlines or other requirements that such nominee may impose or be subject to are met.
Preferred Shares, Series A and Series C
Veresen's Board of Directors also declared the regular quarterly cash dividend of $0.275 per share and $0.3125 per share for the period ended March 31, 2014 on its Cumulative Redeemable Preferred Shares, Series A and Series C, respectively. These dividends will be paid on March 31, 2014 to shareholders of record at the close of business on March 14, 2014. These dividends are designated an "eligible dividend" for Canadian income tax purposes.
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in two pipeline systems, the Alliance Pipeline and the Alberta Ethane Gathering System; a midstream business which includes ownership interests in a world-class natural gas liquids extraction facility near Chicago, the Hythe/Steeprock gas gathering and processing complex, and other natural gas and NGL processing energy infrastructure; and a power business with a portfolio of assets in Canada and the United States. Veresen is also actively developing a number of greenfield projects, including the Jordan Cove LNG Project located in Coos Bay, Oregon. In the normal course of its business, Veresen regularly evaluates and pursues acquisition and development opportunities.
Veresen's common shares, Series A preferred shares, Series C preferred shares and 5.75% convertible unsecured subordinated debentures, Series C due July 31, 2017 are listed on the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A", "VSN.PR.C" and VSN.DB.C", respectively. For further information, please visit www.vereseninc.com.
SOURCE Veresen Inc.For further information:
Dorreen Miller, Director Investor Relations
Phone: (403) 213-3633