CALGARY, ALBERTA--(Marketwired - Aug. 22, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) announces that its Board of Directors has declared a cash dividend for August 2016 of $0.0833 per common share. The dividend will be paid on September 23, 2016 to shareholders of record at the close of business on August 31, 2016. This dividend is designated an "eligible dividend" for Canadian income tax purposes.
As previously announced, the Board of Directors has elected to suspend the Premium Dividend™ and Dividend Reinvestment Plan of Veresen ("Plan"), meaning that no portion of the dividend is eligible for reinvestment under the Plan. Registered shareholders of Veresen previously enrolled in the Plan will receive $0.0833 per common share in cash and do not need to take any action for this to occur.
Preferred Shares Series A, Series C and Series E
Veresen's Board of Directors also declared the regular quarterly cash dividend of $0.275 per share, $0.3125 per share and $0.3125 per share for the period ended September 30, 2016 on its Cumulative Redeemable Preferred Shares Series A, Series C and Series E, respectively. These dividends will be paid on September 30, 2016 to shareholders of record at the close of business on September 15, 2016. 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 the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes a partnership interest in Veresen Midstream Limited Partnership which owns assets in western Canada, and an ownership interest in Aux Sable which owns a world-class natural gas liquids (NGL) extraction facility near Chicago and other natural gas and NGL processing infrastructure; and a power business comprised of a portfolio of assets in Canada. Veresen is also working to advance Jordan Cove LNG, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the associated Pacific Connector Gas Pipeline. In the normal course of business, Veresen regularly evaluates and pursues acquisition and development opportunities.
Veresen's Common Shares, Cumulative Redeemable Preferred Shares, Series A, Cumulative Redeemable Preferred Shares, Series C, and Cumulative Redeemable Preferred Shares, Series E trade on the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A", "VSN.PR.C" and "VSN.PR.E", respectively. For further information, please visit www.vereseninc.com.
™ denotes trademark of Canaccord Genuity Corp.