NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Nov. 20, 2014 /CNW/ - Veresen Inc. ("Veresen") (TSX: VSN) today announced that its Board of Directors has declared a cash dividend for November 2014 of $0.0833 per common share. The dividend will be paid on December 23, 2014 to shareholders of record at the close of business on November 28, 2014. 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 ("Common Shares") under the dividend reinvestment component of the Premium Dividend™ and Dividend Reinvestment Plan of Veresen ("Plan") to be held for their account under the Plan. 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 who have not previously enrolled in the Plan and wish to enroll in the Plan with respect to the November 2014 cash dividend and future cash dividends declared by Veresen, 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 (ET) on November 21, 2014. 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's website at www.vereseninc.com.
Beneficial shareholders of Veresen who have not previously enrolled in the Plan and wish to participate in the Plan with respect to the November 2014 cash dividend and future cash dividends declared by Veresen, 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.
Preferred Shares, Series A and Series C
Veresen's Board of Directors also declared the regular quarterly cash dividend of $0.275 per share and $0.3125 per share for the period ended December 31, 2014 on its Cumulative Redeemable Preferred Shares, Series A and Series C, respectively. These dividends will be paid on December 31, 2014 to shareholders of record at the close of business on December 15, 2014. These dividends are designated an "eligible dividend" for Canadian income tax purposes.
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in three pipeline systems, the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes ownership interests in a world-class natural gas liquids extraction facility near Chicago, the Hythe/Steeprock complex, and other natural gas and NGL processing energy infrastructure; and a power business with a portfolio of assets in Canada and the United States. Veresen is also actively developing a number of greenfield projects, including the Jordan Cove LNG terminal, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the Pacific Connector Gas Pipeline, a 234-mile natural gas transmission system proposed to originate in Malin, Oregon and terminate at the Jordan Cove LNG terminal. In the normal course of its business, Veresen regularly evaluates and pursues acquisition and development opportunities.
Veresen's common shares, Series A Preferred Shares and Series C Preferred Shares are listed on the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A" and "VSN.PR.C" respectively. For further information, please visit www.vereseninc.com.
™ denotes trademark of Canaccord Genuity Corp.
SOURCE: Veresen Inc.
For further information:
Director, Investor Relations
Phone: (403) 213-3633
Email: [email protected]