Valener's Board of Directors approves a dividend of $0.25 per share
MONTREAL, May 16 /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 June 30,
2011. The dividend is payable on July 15, 2011 to shareholders of
record at the close of business on June 30, 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 July 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 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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Jean Charles Robillard
Media and Public Relations