VANCOUVER, Nov. 18, 2014 /CNW/ - WesternOne Inc. (TSX: WEQ, WEQ.DB and WEQ.DB.C) ("WesternOne") today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of November 2014 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on December 22, 2014 to shareholders of record at the close of business on November 28, 2014. This dividend is an eligible dividend for Canadian income tax purposes.
The policy of WesternOne is to pay dividends on or about the 16th trading day after the record date to shareholders of record on the last business day of the preceding month.
WesternOne offers a Premium Dividend™ and Dividend Reinvestment Plan (the "Plan") to eligible shareholders of WesternOne. The Plan provides eligible shareholders of WesternOne with an opportunity to receive, by reinvesting the monthly cash dividends declared payable on their common shares of WesternOne, either (i) new common shares of WesternOne at a subscription price equal to a 3% discount to the Average Market Price (as defined in the Plan); or (ii) a premium cash payment equal to 102% of the amount of the reinvested cash dividends.
As at October 31, 2014, WesternOne had 37,986,456 common shares, $71,039,000 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.
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sector in order to generate stable dividends to its shareholders and to achieve capital appreciation.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
™ Denotes trademark of Canaccord Genuity Corp.
SOURCE: WesternOne Inc.
For further information: Andrew Greig, Manager of Investor Relations, WesternOne Inc., Suite 910, 925 West Georgia Street, Vancouver, BC, V6C 3L2, Phone: (604) 678-4042, E-mail: [email protected], Website: www.weq.ca