MONTREAL, Nov. 27, 2014 /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, 2014. The dividend is payable on January 15, 2015 to common shareholders of record at the close of business on December 31, 2014.
The Board of Directors also declared a quarterly dividend of $0.271875 per Series A preferred share, for the period of October 16, 2014 to January 15, 2015, payable on January 15, 2015 to preferred shareholders of record at the close of business on January 9, 2015.
Both dividends are designated as eligible dividends for Canadian tax purposes.
Dividend Reinvestment Plan
Valener offers a Dividend Reinvestment Plan (the "Plan") pursuant to which eligible common shareholders may elect, without brokerage and administration fees, to have the cash dividends paid on their common shares automatically reinvested into additional Valener common shares at a discount of 5% of the weighted average price during the five trading days immediately preceding the dividend payment date, as approved by the Board of Directors for the dividend payable on January 15, 2015.
Details of the Plan and the enrolment process are available in the "Investors" section of Valener's website (www.valener.com) under "Stock information".
Valener Inc. is a public company that is 100% owned by the public investor and serves as the investment vehicle in Gaz Métro. Through its investment in Gaz Métro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Quebec and Vermont. As a strategic partner, Valener, on one hand, contributes to Gaz Métro's growth, and on the other hand invests in wind power production in Quebec together with Gaz Métro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common shares and preferred shares are listed on the Toronto Stock Exchange under the "VNR" symbol for common shares and under the "VNR.PR.A" symbol for Series A preferred shares. www.valener.com
SOURCE: Valener Inc.
For further information: Investors and analysts: Caroline Warren, Investor Relations, 514-598-3324; Media: Marie-Christine Demers, Public Affairs and Communications, 514 598-3449; www.twitter.com/gazmetro; www.gazmetro.com/pressroom; Photos, videos (b-roll) and logos are available in Gaz Métro's Multimedia library.