/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/
Trading Symbol: VSN
CALGARY, Feb. 17 /CNW/ - Veresen Inc. announced today that its board of
directors has declared a cash dividend for February 2011 of $0.0833 per
share. The dividend will be paid on March 23, 2011 to shareholders of
record at the close of business on February 28, 2011. 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 Inc. ("Common Shares") 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, or such shareholders may
have these additional Common Shares delivered to a designated plan
broker in exchange for a premium cash payment equal to 102% of the
reinvested amount under the Premium Dividend™ component of the Plan.
Registered shareholders of Veresen Inc. who have not previously enrolled
in the Plan and wish to enroll in the Plan with respect to the February
2011 cash dividend and future cash dividends declared by Veresen Inc.,
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
(Toronto time) on Friday, February 18, 2011. 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 Inc.'s website at
Beneficial shareholders of Veresen Inc. who have not previously enrolled
in the Plan and wish to participate in the Plan with respect to the
February 2011 cash dividend and future cash dividends declared by
Veresen Inc., 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.
Veresen Inc. is a publicly traded dividend paying corporation based in
Calgary, Alberta, that owns and operates energy infrastructure assets
across North America. Its common 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" and
"VSN.DB.C", respectively. Veresen Inc. 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; an NGL extraction business which includes an interest
in a world-class extraction facility near Chicago; and a power business
with renewable and gas-fired facilities and development projects in
Canada and the United States, and district energy systems in Ontario
and Prince Edward Island. Veresen Inc. and each of its pipeline, NGL
extraction and power businesses are also actively developing a number
of greenfield investment opportunities. In the normal course of its
business, Veresen Inc. and each of its businesses regularly evaluate
and pursue acquisition and development opportunities.
™ denotes trademark of Canaccord Genuity Corp.
SOURCE Veresen Inc.
For further information:
|Stephen H. White |
President and C.E.O.
Vice President, Finance and C.F.O.
| || |
Suite 440, 222 - 3rd Avenue S.W.
Calgary, AB T2P 0B4
Phone: (403) 296-0140; Fax: (403) 213-3648