Valener Declares Quarterly Dividends

MONTRÉAL, May 10, 2019 (GLOBE NEWSWIRE) -- Valener Inc. (“Valener”) (TSX: VNR) (TSX: VNR.PR.A) today announced that its Board of Directors declared, on May 9, 2019, a quarterly dividend of $0.30 per common share, payable on July 15, 2019, to common shareholders of record at the close of business on June 30, 2019.

The Board of Directors also declared a quarterly dividend of $0.28875 per Series A preferred share, payable on July 15, 2019, to shareholders of record at the close of business on July 8, 2019.

Both dividends are designated as eligible dividends for Canadian tax purposes.

Warning: The effective date of the Arrangement may occur prior to June 30, 2019, which is before the record date used to determine the identity of the registered common shareholders that shall have the right to receive the above mentioned quarterly dividend. In such event, and in accordance with the Arrangement Agreement between Noverco and Valener, the above mentioned dividend would not be payable to common shareholders. As for preferred shareholders, in the event that the preferred shareholders vote in favor of the Arrangement,  the consideration for the preferred shares will include an amount equal to all accrued and unpaid dividends up to, but excluding, the effective date of the Arrangement.

Suspension of the Dividend Reinvestment Plan

Following the signing of an arrangement agreement between Valener and Noverco, Valener announced that it was suspending its Dividend Reinvestment Plan as of  March 29, 2019. This suspension was required by the arrangement agreement. Should the arrangement not be completed, the suspension is expected to be lifted.

About Valener

Valener is a public company held entirely by the investing public and serves as the investment vehicle in Énergir, L.P. Through its investment in Énergir, L.P., Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Québec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Énergir, L.P.’s growth, and on the other, invests in wind power production in Québec alongside Énergir, L.P. 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. www.valener.com

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