Vermont Business Magazine Gaz Metro investor Valener Inc (TSX: VNR)(TSX: VNR.PR.A) has announced that its Board of Directors declared, on August 8, 2017, a quarterly dividend of $0.29 per common share, payable on October 16, 2017, to shareholders of record at the close of business on September 30, 2017, representing a 3.6% increase from the preceding quarter. Gaz Metro is the parent company of Green Mountain Power and Vermont Gas Systems.
The Board of Directors also declared a quarterly dividend of $0.271875 per Series A preferred share, payable on October 16, 2017, to shareholders of record at the close of business on October 6, 2017.
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 or 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 October 16, 2017.
Details about the Plan and enrolment process are available in the "Investors" section of Valener's Web site under "Shares and dividends."
Valener is a public company held entirely by its shareholders and serves as the investment vehicle in Gaz Metro. Through its investment in Gaz Metro, 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 Metro's growth, and on the other, invests in wind power production in Quebec alongside Gaz Metro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common shares 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.
MONTREAL, QUEBEC--(Marketwired - August 09, 2017) - Valener Inc