VANCOUVER, April 17, 2014 /PRNewswire/ - WesternOne Inc. ("WesternOne") (TSX: WEQ, WEQ.DB and WEQ.DB.C) today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of April 2014 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on May 15, 2014 to shareholders of record at the close of business on April 30, 2014.
During March 2014, 406,124 common shares were issued at $5.25 per share in connection with the conversion of $2,132,000 principal amount in 8.5% Convertible Unsecured Subordinated Debentures (plus accrued interest) ("Series 1 Debentures"). As at the close of business on March 19, 2014, an additional 28,149 common shares were issued in respect of the redemption of the remaining $196,000 principal amount in Series 1 Debentures. As at March 31, 2014, WesternOne had 31,692,402 common shares, $71,042,000 principal amount of 8% Convertible Series 2 Unsecured Subordinated Debentures and $51,750,000 principal amount of 6.25% Convertible Series 3 Unsecured Subordinated Debentures outstanding.
The policy of WesternOne is to pay cash dividends on or about the 15th day of each month to shareholders of record on the last business day of the preceding month.
WesternOne today also announced the scheduling of its Q1 2014 Financial Results Conference Call. Robert King, CEO of WesternOne, and the management team will host a conference call at 4:30pm (Eastern time) or 1:30pm (Pacific time), on Wednesday May 14, 2014, to review the financial results and corporate developments for the three months ended March 31, 2014.
To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the WesternOne conference call.
Dial in numbers: | Toll Free ......................................................... 1-888-390-0546 |
International or Local Toronto......................... 1-416-764-8688 |
If you cannot participate on May 14, 2014, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference two hours after the meeting end time, and the replay will be available until May 21, 2014. Please enter the Replay ID number 070495 followed by the # key.
Replay Dial-In: | Toll Free ......................................................... 1-888-390-0541 |
International or Local Toronto......................... 1-416-764-8677 |
About WesternOne
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sector in order to generate stable and growing dividends to its shareholders and to achieve capital appreciation.
Additional information about WesternOne is available at www.weq.ca or www.sedar.com.
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SOURCE WesternOne Inc.
