Veresen Announces Common Share Dividend for February 2014 and Quarterly
Dividends on its Preferred Shares
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES/
CALGARY, Feb. 19, 2014 /CNW/ - Veresen Inc. ("Veresen") (TSX: VSN) today
announced that its Board of Directors has declared a cash dividend for
February 2014 of $0.0833 per common share. The dividend will be paid on March
21, 2014 to shareholders of record at the close of business on February 28,
2014. This dividend is designated an "eligible dividend" for Canadian income
The dividend is eligible to be reinvested by shareholders, at a 5% discount,
in common shares of Veresen under the dividend reinvestment component of the
Premium Dividend™ and Dividend Reinvestment Plan of Veresen Inc. ("Plan") to
be held for their account under the Plan. No portion of this dividend will be
eligible for a premium cash payment under the Premium Dividend™ component of
Registered shareholders of Veresen who have not previously enrolled in the
Plan and wish to enroll in the Plan with respect to the February 2014 cash
dividend and future cash dividends declared by Veresen, must deliver to
Computershare Trust Company of Canada, as Plan Agent, a completed enrollment
form which is available at www.computershare.com/investorcentrecanada, at or
before 5:00 pm (ET) on February 21, 2014. A copy of the enrollment form may
also be obtained by calling Computershare Trust Company of Canada at
1-800-564-6253, or from Veresen's website at www.vereseninc.com.
Beneficial shareholders of Veresen who have not previously enrolled in the
Plan and wish to participate in the Plan with respect to the February 2014
cash dividend and future cash dividends declared by Veresen, should contact
their broker, investment dealer, financial institution or other nominee to
provide appropriate enrollment instructions and to ensure any deadlines or
other requirements that such nominee may impose or be subject to are met.
Preferred Shares, Series A and Series C
Veresen's Board of Directors also declared the regular quarterly cash dividend
of $0.275 per share and $0.3125 per share for the period ended March 31, 2014
on its Cumulative Redeemable Preferred Shares, Series A and Series C,
respectively. These dividends will be paid on March 31, 2014 to shareholders
of record at the close of business on March 14, 2014. These dividends are
designated an "eligible dividend" for Canadian income tax purposes.
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation based in Calgary,
Alberta, that owns and operates energy infrastructure assets across North
America. Veresen is engaged in three principal businesses: a pipeline
transportation business comprised of interests in two pipeline systems, the
Alliance Pipeline and the Alberta Ethane Gathering System; a midstream
business which includes ownership interests in a world-class natural gas
liquids extraction facility near Chicago, the Hythe/Steeprock gas gathering
and processing complex, and other natural gas and NGL processing energy
infrastructure; and a power business with a portfolio of assets in Canada and
the United States. Veresen is also actively developing a number of greenfield
projects, including the Jordan Cove LNG Project located in Coos Bay, Oregon.
In the normal course of its business, Veresen regularly evaluates and pursues
acquisition and development opportunities.
Veresen's common shares, Series A preferred shares, Series C preferred shares
and 5.75% convertible unsecured subordinated debentures, Series C due July 31,
2017 are listed on the Toronto Stock Exchange under the symbols "VSN",
"VSN.PR.A", "VSN.PR.C" and VSN.DB.C", respectively. For further information,
please visit www.vereseninc.com.
SOURCE Veresen Inc.
Dorreen Miller, Director Investor Relations Phone: (403) 213-3633
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CO: Veresen Inc.
NI: OIL DIV
-0- Feb/19/2014 18:00 GMT
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