Investor Frequently Asked Questions
Can I purchase common shares directly from Veresen?
Common shares cannot be purchased directly from Veresen. You must contact your broker or other financial intermediary in order to purchase our common shares, which are traded on The Toronto Stock Exchange (under the trading symbol VSN).
What is Veresen’s stock symbol and where do its common shares trade?
Veresen’s common shares trade on The Toronto Stock Exchange under the symbol VSN.
How often does Veresen pay dividends to its shareholders?
Veresen currently pays a monthly dividend of Cdn$0.0833 on or about the 23rd day following the end of each calendar month to Shareholders of record on or about the last business day of each such calendar month.
What is a dividend payment date, dividend record date and ex-dividend date?
A dividend payment date is the date the company pays cash dividends (in the form of a cheque) to registered shareholders directly, or to the brokerage or investment companies that manage the beneficial shareholders’ account(s). This usually occurs on or around the 23rd of the month following the dividend declaration.
A dividend record date is the last business day of each month. To qualify and receive a cash dividend, a shareholder must be a holder of record on the dividend record date.
An ex-dividend date is two business days prior to the dividend record date. Shareholders who have purchased their shares before the ex-dividend date are entitled to the declared dividend to be paid on or around the 23rd day of the following month.
Does Veresen offer a program that allows shareholders to reinvest their dividends in additional shares?
Veresen has a Premium DividendTM and Dividend Reinvestment Plan (the “DRIP”)(TM Trademark of Canaccord Genuity Corp.) that provides a convenient and cost-effective method for eligible holders in Canada to maximize their investment in Veresen by reinvesting their monthly cash dividends to acquire additional common shares. For further information regarding Veresen’s DRIP, please visit our DRIP Information Section.
What are the dividend payments and terms regarding the Series A Preferred Shares?
The holders of Series A Preferred Shares will be entitled to receive fixed cumulative dividends at an annual rate of 4.40%, payable quarterly for an initial period up to but excluding September 30, 2017, as and when declared by the Board of Directors of Veresen. The dividend rate will reset on September 30, 2017 and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada bond yield plus 2.92%. The Series A Preferred Shares are redeemable by Veresen, at its option, on September 30, 2017 and on September 30 of every fifth year thereafter.
What are the dividend payments and terms regarding the Series C Preferred Shares?
The holders of Series C Preferred Shares will be entitled to receive fixed cumulative dividends at an annual rate of 5.00%, representing $1.25 per share, payable quarterly for an initial period up to but excluding March 31, 2019, as and when declared by the Board of Directors of Veresen. The first quarterly dividend payment date is scheduled for December 31, 2013. The dividend rate will reset on March 31, 2019 and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada bond yield plus 3.01%. The Series C Preferred Shares are redeemable by Veresen, at its option, on March 31, 2019 and on March 31 of every fifth year thereafter at a price of $25.00 per share plus accrued and unpaid dividends.