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MONTREAL, QUEBEC--(Marketwired - Feb 12, 2016) - Valener Inc. ("Valener") (TSX:VNR)(TSX:VNR.PR.A) today announced that its Board of Directors declared, on February 11, 2016, a quarterly dividend of $0.27 per common share, payable on April 15, 2016, to shareholders of record at the close of business on March 31, 2016.
The Board of Directors also declared a quarterly dividend of $0.271875 per Series A preferred share, payable on April 15, 2016, to shareholders of record at the close of business on April 8, 2016.
Both dividends are designated as eligible dividends for Canadian tax purposes.
Dividend Reinvestment Plan
Valener offers a Dividend Reinvestment Plan (the "Plan") pursuant to which eligible common shareholders may elect, without brokerage and administration fees, to have the cash dividends paid on their common shares automatically reinvested into additional Valener common shares at a discount of 2% of the weighted average price during the five trading days immediately preceding the dividend payment date, as approved by the Board of Directors for the dividend payable on April 15, 2016.
Details of the Plan and the enrolment process are available in the "Investors" section of Valener's Web site under "Shares and dividends".
Valener is a widely held public company that serves as the investment vehicle in Gaz Métro. Through its investment in Gaz Métro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Quebec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Gaz Métro's growth, and on the other, invests in wind power production in Quebec alongside Gaz Métro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common 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.
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