LONGUEUIL, QC, Aug. 31, 2012 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") has implemented a Dividend Reinvestment Plan ("the Plan" or "DRIP") for its common shareholders which takes effect immediately.
Innergex is pleased to offer its shareholders the opportunity to participate in its DRIP, which enables them to reinvest all or part of their cash dividends into additional shares of the Corporation in an efficient and cost effective manner.
Plan shares purchased under the DRIP will be issued from treasury and their purchase price will be the weighted-average trading price of its common shares on the Toronto Stock Exchange during the five (5) business days immediately preceding the dividend payment date, less a discount of 2.5%.
Since the DRIP gives the Corporation the option of buying shares on the Canadian market, issuing new shares from treasury, or choosing a combination of the two, any decision made by the board of directors to change either the purchase method for the shares or the discount granted on the purchase price of shares issued from treasury will be communicated by press release.
Reinvestments will occur automatically until participation in the Plan is terminated. Participating shareholders will also be able to withdraw or sell whole Plan shares at any time, according to the terms of the Plan.
Registered shareholders of Innergex who are residents of Canada are eligible to enrol in the Plan directly at any time, by using Computershare's self-service Web portal, Investor Centre, at www.computershare.com/investorcentrecanada, or by calling Computershare at 1 800 564-6253.
Non-registered shareholders of Innergex who are residents of Canada and who hold their common shares through an intermediary (typically a broker or financial institution) are eligible to enrol in the Plan indirectly at any time by contacting their intermediary and making arrangements regarding enrolment in the Plan on their behalf.
Shareholders who wish to purchase additional shares under the Plan in connection with the October 2012 dividend payment must be enrolled in the Plan by September 21, 2012 at 11:00 a.m. ET.
For more information about Innergex's DRIP, please contact Computershare or visit us at www.innergex.com under the section Investors/Dividend Reinvestment Plan.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms and carries out its operations in Quebec, Ontario, British Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 26 operating facilities with an aggregate net installed capacity of 494 MW (gross 880 MW), including 20 hydroelectric operating facilities, five wind farms, and one solar photovoltaic farm; (ii) interests in 9 projects under development or under construction with an aggregate net installed capacity of 231 MW (gross 374 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 2,904 MW (gross 3,127 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P and BBB (low) by DBRS.
The Corporation's strategy for building shareholder value is to develop or acquire high-quality facilities generating sustainable cash flows and providing a high return on invested capital, and to distribute a stable dividend.
SOURCE: INNERGEX RENEWABLE ENERGY INC.
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