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CORRECTION/Valener Declares Quarterly Dividends and Extends 4% Annual Common Dividend Growth Target Through 2022


Date issue: May 12, 2017
Time in: 8:37 AM e


A dividend payment will be made in the amount of $0.271875 per Series A preferred share on July 17, 2017, instead of July 10, 2017, as previously reported, to shareholders of record at the close of business on July 10, 2017.

MONTREAL, QUEBEC--(Marketwired - May 12, 2017) - Valener Inc. ("Valener") (TSX:VNR)(TSX:VNR.PR.A) today announced that its Board of Directors declared, on May 10, 2017, a quarterly dividend of $0.28 per common share, payable on July 17, 2017, to shareholders of record at the close of business on June 30, 2017.

In addition, the board of directors announced the extension of the 4% compound annual growth target on common dividends for the next five fiscal years, i.e.; until fiscal 2022, four years later than initially planned.

The Board of Directors also declared a quarterly dividend of $0.271875 per Series A preferred share, payable on July 17, 2017, to shareholders of record at the close of business on July 10, 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 and 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 July 17, 2017.

Details of the Plan and the enrolment process are available in the "Investors" section of Valener's Web site under "Shares and dividends".

About Valener

Valener is a widely held public company that 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 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.

Photos, videos (b-roll) and logos are available in Gaz Metro's Multimedia library.

- END RELEASE - 12/05/2017

For further information:
Investors and analysts
Mariem Elsayed
Marie-Christine Demers


INDUSTRY: Energy and Utilities - Alternative Energy, Energy and
Utilities - Oil and Gas , Energy and Utilities - Utilities, Energy
and Utilities - Clean Technology
RELEASE ID: 20170512CC0027

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

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