Valener declares its quarterly dividend - Valener';s Board of Directors approves a dividend of $0.25 per share and increases th

Published in Business and Finance on Thursday, August 11th 2011 at 4:55 GMT by Market Wire
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MONTREAL, Aug. 11, 2011 /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, 2011. The dividend is payable on October 17, 2011 to shareholders of record at the close of business on September 30, 2011. It is an eligible dividend for Canadian tax purposes.

Dividend Reinvestment Plan

Under 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 17, 2011 shall be carried out by way of a new Valener common share issuance at a discount of 5% (compared to 2% to date) 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 (also called beneficial 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 the transfer agent, CIBC Mellon Trust Company, at 1-800-387-0825 and complete the enrolment form.

Non-registered shareholders are shareholders whose shares are held on their behalf by a securities broker, dealer, bank, trust company or other financial institution. To enrol in the Plan, eligible non-registered shareholders must contact the intermediary who is holding their shares.

The text of the Plan is available in its entirety in the "Investors" section of Valener's website ([ www.valener.com ]).

About Valener

Valener owns an economic interest of approximately 29% in Gaz Métro Limited Partnership ("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 wind power projects jointly developed by Beaupré Éole General Partnership and Boralex Inc. on the private lands of Séminaire de Québec. Valener may also pursue its own development projects and acquisition strategies subject to a non-competition agreement in favour of Gaz Métro and to applicable limitations under its credit facility. Valener's common shares are listed on the Toronto Stock Exchange under the "VNR" trading symbol. [ www.valener.com ]

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Valener declares its quarterly dividend - Valener';s Board of Directors approves a dividend of $0.25 per share and increases th