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CALGARY, Nov. 19, 2013 /CNW/ - Veresen Inc. ("Veresen") (TSX: VSN) today announced that its Board of Directors has declared a cash dividend for November 2013 of $0.0833 per common share. The dividend will be paid on December 23, 2013 to shareholders of record at the close of business on November 29, 2013. 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 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. No portion of this dividend will be eligible for a premium cash payment 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 2013 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 Friday, November 22, 2013. 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 2013 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
Veresen's Board of Directors declared the regular quarterly cash dividend of $0.275 per share for the period ended December 31, 2013 on its Cumulative Redeemable Preferred Shares, Series A. The dividend will be paid on December 31, 2013 to shareholders of record at the close of business on December 13, 2013. This dividend is designated an "eligible dividend" for Canadian income tax purposes.
Preferred Shares, Series C
The Board of Directors also declared the initial quarterly cash dividend on its Cumulative Redeemable Preferred Shares, Series C for the period ended December 31, 2013 of $0.2432 per share. The initial quarterly cash dividend is in respect of the period from October 21, 2013 to December 31, 2013. The dividend will be paid on December 31, 2013 to shareholders of record at the close of business on December 13, 2013. This dividend is 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 two pipeline systems, the Alliance 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 gas gathering and processing complex, and other natural gas and NGL processing energy infrastructure; 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 and each of its pipeline, midstream and power businesses are also actively developing a number of greenfield projects. In the normal course of its business, Veresen and each of its businesses regularly evaluate and pursue acquisition and development opportunities.
Veresen's common shares, Series A preferred shares, Series C preferred 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", "VSN.PR.A", "VSN.PR.C and VSN.DB.C", respectively. For further information, please visit www.vereseninc.com.
™ denotes trademark of Canaccord Genuity Corp.
SOURCE: Veresen Inc.
For further information:
Dorreen Miller, Director, Investor Relations
Phone: (403) 213-3633
Email: [email protected]