Valener's Board of Directors approves a dividend of $0.25 per share
MONTREAL, Feb. 14 /CNW Telbec/ - Valener Inc. ("Valener") (TSX: VNR) is
announcing that its Board of Directors has declared a quarterly
dividend of $0.25 per common share for the quarter ending March 31,
2011. The dividend is payable on April 15, 2011 to shareholders of
record at the close of business on March 31, 2011. It is an eligible
dividend for Canadian tax purposes.
Dividend Reinvestment Plan
Under Valener's Dividend Reinvestment Plan (the "Plan"), shareholders
who reside in Canada may choose to have the cash dividends paid on
their common shares reinvested into additional Valener common shares.
As approved by the Board of Directors, reinvestments of the dividend
payable on April 15, 2011 shall be carried out by way of a new Valener
common share issuance at a discount of 2% of the weighted average price
during the five trading days immediately preceding the dividend payment
The Plan enrolment process for registered shareholders differs from that
for non-registered shareholders (also called beneficial shareholders).
Registered shareholders are shareholders whose name appears on the
physical share certificate that represents their shares. To enrol in
the Plan, eligible registered shareholders may contact the transfer
agent, CIBC Mellon Trust Company, at 1-800-387-0825 and complete the
Non-registered shareholders are shareholders whose shares are held on
their behalf by a securities broker, dealer, bank, trust company or
other financial institution. To enrol in the Plan, eligible
non-registered shareholders must contact the intermediary who is
holding their shares.
The text of the Plan is available in its entirety in the "Investors"
section of Valener's website (www.valener.com).
Valener is a new publicly listed corporation that owns an economic
interest of approximately 29% in Gaz Métro Limited Partnership ("Gaz
Métro"). Valener therefore has a stake in the energy industry and
benefits from Gaz Métro's diversified profile, both in terms of
geography and business segment. Valener also owns a 24.5% indirect
interest in the wind power projects jointly developed by Beaupré Éole
General Partnership and Boralex Inc. on the private lands of Séminaire
de Québec. Valener may also pursue its own development projects and
acquisition strategies subject to a non-competition agreement in favour
of Gaz Métro and to applicable limitations under its credit facility.
Valener's common shares are listed on the Toronto Stock Exchange under
the "VNR" trading symbol www.valener.com.
SOURCE VALENER INC.
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