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SOURCE Valener Inc.
MONTREAL, Feb. 7, 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
March 31, 2014. The dividend is payable on April 15, 2014 to common
shareholders of record at the close of business on March 31, 2014.
The Board of Directors also declared a quarterly dividend of $0.271875
per Series A cumulative rate reset preferred share, for the period of
January 16, 2014 to April 15, 2014, payable on April 15, 2014 to
preferred shareholders of record at the close of business on
April 9, 2014.
Both dividends are designated as eligible dividends for Canadian tax
Dividend Reinvestment Plan
Under Valener's Dividend Reinvestment Plan (the "Plan"), shareholders
who reside in Canada may elect, without brokerage and administration
fees, to have the cash dividends paid on their common shares
automatically reinvested into additional Valener common shares.
As approved by the Board of Directors, reinvestments of the dividend
payable on April 15, 2014 shall be carried out by way of a new Valener
common share issuance at a discount of 5% of the weighted average price
during the five trading days immediately preceding the dividend payment
Details of the Plan and the enrolment process are available in the
"Investors" section of Valener's website (www.valener.com) under "Stock information". Eligible shareholders who wish to
participate in the Plan and whose shares are held on their behalf by an
intermediary such as a securities broker, dealer, bank, trust company
or other financial institution, must contact that intermediary.
Eligible shareholders whose name appears on the physical share
certificate that represents their shares must contact CST Trust Company
at 1-800-387-0825 and complete the enrolment form.
Valener owns an economic interest of approximately 29% in Gaz Métro.
Valener therefore has a stake in the energy industry and benefits from
Gaz Métro's diversified profile, both in terms of geography and
business segment. Valener also owns a 24.5% indirect interest in the
Seigneurie de Beaupré Wind Farms jointly developed with Gaz Métro and
Boralex Inc., with the 272-megawatt Phase I in service since December
2013. 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
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