VANCOUVER, Nov. 19, 2013 /CNW/ - WesternOne Inc. (TSX: WEQ) (TSX: WEQ.DB) (TSX: WEQ.DB.B) and (TSX: WEQ.DB.C) today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of November 2013 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on December 16, 2013 to shareholders of record at the close of business on November 29, 2013.
During October 2013, 48,921 common shares were issued at $5.25 per share in connection with the conversion of $250,000 principal amount in 8.5% Convertible Unsecured Subordinated Debentures (plus accrued interest) and 1,361 common shares were issued at $7.50 per share in connection with the conversion of $10,000 principal amount in 8% Convertible Series 2 Unsecured Subordinated Debentures (plus accrued interest). As at October 31, 2013, WesternOne Inc. had 24,247,660 common shares, $3,705,000 principal amount of 8.5% Convertible Unsecured Subordinated Debentures, $71,125,000 principal amount of 8% Convertible Series 2 Unsecured Subordinated Debentures and $51,750,000 principal amount of 6.25% Convertible Series 3 Unsecured Subordinated Debentures outstanding.
The policy of WesternOne Inc. is to pay cash dividends on or about the 15th day of each month to shareholders of record on the last business day of the preceding month. During the three-month period ended September 30, 2013 WesternOne Inc. paid aggregate dividends of $1,205,935.70, $1,207,957.40 and $1,209,868.90 to shareholders of record on July 31, August 31 and September 30, 2013, respectively.
About WesternOne Inc.
WesternOne Inc. seeks to acquire and grow businesses in the construction and infrastructure services sector in order to generate stable and growing dividends to its shareholders and to achieve capital appreciation.
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SOURCE: WesternOne Inc.
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