CALGARY, ALBERTA–(Marketwired – July 13, 2017) – Veresen Inc. (“Veresen” or the “Company”) (TSX:VSN) announced today that Thierry Vandal has resigned as a director of the Company effective July 12, 2017. The Company would like to thank Mr. Vandal for his significant contributions to Veresen and wish him every success in the future.
Common Share Dividend for July 2017
The Board of Directors has declared a cash dividend for July 2017 of $0.0833 per common share. The dividend will be paid on August 23, 2017 to shareholders of record at the close of business on July 25, 2017. This dividend is designated an “eligible dividend” for Canadian income tax purposes.
As a result of the previously announced plan of arrangement between Pembina Pipeline Corporation (“Pembina”) and Veresen, the Company will alter its future dividend record dates to coincide with Pembina’s monthly common share dividend schedule. Veresen anticipates all future dividend record dates to be on the 25th calendar day of each month. Should the record date fall on a weekend or a statutory holiday, the effective record date will be the previous business day.
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 7.8 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.
Forward-looking Information
Certain information contained in this news release constitutes forward-looking information under applicable securities laws. All statements, other than statements of historical fact, which address activities, events or developments that Veresen expects or anticipates may or will occur in the future, are forward-looking information. Forward-looking information typically contains statements with words such as “may”, “estimate”, “anticipate”, “believe”, “expect”, “plan”, “intend”, “target”, “project”, “forecast” or similar words suggesting future outcomes or outlook. Forward-looking statements in this news release include, but are not limited to, statements with respect to the future dividend record dates. Readers are also cautioned that such additional information is not exhaustive. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these factors are independent and management’s future course of action would depend on its assessment of all information at that time. Readers are urged to consult the disclosure provided under the heading “Risk Factors” in Veresen’s management information circular dated June 5, 2017, which has been filed on SEDAR at www.sedar.com for further information respecting the risks and other factors applicable to the Transaction. Although Veresen believes that the expectations conveyed by the forward-looking information are reasonable based on information available on the date of preparation, no assurances can be given as to future results, levels of activity and achievements. Undue reliance should not be placed on the information contained herein, as actual results achieved will vary from the information provided herein and the variations may be material. Veresen makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking information. Furthermore, the forward-looking statements contained herein are made as of the date hereof, and Veresen does not undertake any obligation to update publicly or to revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable laws. Any forward-looking information contained herein is expressly qualified by this cautionary statement.
Vice President, Corporate Planning & Investor Relations
(403) 213-3633
[email protected]
