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.