Valener's Board of Directors approves:
A dividend of $0.25 per common share;
A discount of 5% on new common shares issued under the Dividend
Reinvestment Plan; and
A dividend of $0.271875 per Series A preferred share.
MONTREAL, Nov. 29, 2012 /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 December 31,
2012. The dividend is payable on January 15, 2013 to shareholders of
record at the close of business on December 31, 2012. It is an eligible
dividend for Canadian tax purposes.
The Board of Directors also declared a quarterly dividend of $0.271875
per Series A cumulative rate reset preferred share, for the period of
October 16, 2012 to January 15, 2013, payable on January 15, 2013 to
shareholders of record at the close of business on January 9, 2013. 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 January 15, 2013 shall be carried out by way of a new
Valener common share issuance at a discount of 5% of the weighted
average price during the five trading days immediately preceding the
dividend payment date.
The Plan enrolment process for registered shareholders differs from that
for non-registered 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 Canadian Stock
Transfer Company Inc., administrative agent for CIBC Mellon Trust
Company, at 1-800-387-0825 and complete the enrolment form.
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 developed with Gaz Métro
and Boralex Inc. on the private lands of Séminaire de Québec. Valener's
common shares and preferred shares are listed on the Toronto Stock
Exchange under the "VNR" trading symbol for common shares and under the
"VNR.PR.A" symbol for Series A preferred shares. www.valener.com
SOURCE: VALENER INC.
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