Valener's Board of Directors approves a dividend of $0.25 per common share and an initial dividend on Series A preferred shares
MONTREAL, Aug. 10, 2012 /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 September 30, 2012. The dividend is payable on October 15, 2012 to shareholders of record at the close of business on September 28, 2012. It is an eligible dividend for Canadian tax purposes.
The Board of Directors also declared a first quarterly dividend of $0.39031 per Series A cumulative rate reset preferred share, for the period of June 6, 2012 to October 15, 2012, payable on October 15, 2012 to shareholders of record at the close of business on October 12, 2012. It is an eligible dividend for Canadian tax purposes.
Dividend Reinvestment PlanUnder Valener's Dividend Reinvestment Plan (the "Plan"), shareholders who reside in Canada may choose to have the cash dividends paid on their common shares reinvested into additional Valener common shares. As approved by the Board of Directors, reinvestments of the dividend payable on October 15, 2012 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 date. Plan enrolment: The Plan enrolment process for registered shareholders differs from that for non-registered shareholders. Registered shareholders are shareholders whose name appears on the physical share certificate that represents their shares. To enrol in the Plan, eligible registered shareholders may contact Canadian Stock Transfer Company Inc., administrative agent for CIBC Mellon Trust Company, at 1-800-387-0825 and complete the enrolment form.