Press release from CNW Group
VERESEN INC. ANNOUNCES DIVIDEND FOR FEBRUARY 2011
Thursday, February 17, 2011
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/
Trading Symbol: VSN
CALGARY, Feb. 17 /CNW/ - Veresen Inc. announced today that its board of directors has declared a cash dividend for February 2011 of $0.0833 per share. The dividend will be paid on March 23, 2011 to shareholders of record at the close of business on February 28, 2011. This dividend is designated an "eligible dividend" for Canadian income tax purposes.
The dividend is eligible to be reinvested by shareholders, at a 5% discount, in common shares of Veresen Inc. ("Common Shares") 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, or such shareholders may have these additional Common Shares delivered to a designated plan broker in exchange for a premium cash payment equal to 102% of the reinvested amount under the Premium Dividend™ component of the Plan.
Registered shareholders of Veresen Inc. who have not previously enrolled in the Plan and wish to enroll in the Plan with respect to the February 2011 cash dividend and future cash dividends declared by Veresen Inc., 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 (Toronto time) on Friday, February 18, 2011. 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 Inc.'s website at www.vereseninc.com.
Beneficial shareholders of Veresen Inc. who have not previously enrolled in the Plan and wish to participate in the Plan with respect to the February 2011 cash dividend and future cash dividends declared by Veresen Inc., 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.
Veresen Inc. is a publicly traded dividend paying corporation based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Its common 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" and "VSN.DB.C", respectively. Veresen Inc. 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; an NGL extraction business which includes an interest in a world-class extraction facility near Chicago; and a power business with renewable and gas-fired facilities and development projects in Canada and the United States, and district energy systems in Ontario and Prince Edward Island. Veresen Inc. and each of its pipeline, NGL extraction and power businesses are also actively developing a number of greenfield investment opportunities. In the normal course of its business, Veresen Inc. and each of its businesses regularly evaluate and pursue acquisition and development opportunities.
™ denotes trademark of Canaccord Genuity Corp.
For further information:
|Stephen H. White |
President and C.E.O.
Vice President, Finance and C.F.O.
Suite 440, 222 - 3rd Avenue S.W.
Calgary, AB T2P 0B4
Phone: (403) 296-0140; Fax: (403) 213-3648