Valener's Board of Directors approves a dividend of $0.25 per share and maintains the 5% discount on new shares issued under the Dividend Reinvestment Plan
MONTREAL, Feb. 13, 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 March 31, 2012. The dividend is payable on April 16, 2012 to shareholders of record at the close of business on March 30, 2012. 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 16, 2012 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 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
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