WesternOne Inc. Announces Cash Distribution for March 2013
VANCOUVER, March 18, 2013 /PRNewswire/ - WesternOne Inc. (TSX: WEQ), (TSX: WEQ.DB.B) and (TSX: WEQ.DB.C) today announced that its Board of Directors has approved a cash dividend of $0.05 per share for the month of March 2013 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on April 15, 2013 to shareholders of record at the close of business on March 28, 2013.
During February 2013, 123,819 common shares were issued at $5.25 per share in connection with the conversion of $643,000 principal amount in Unsecured Convertible Subordinated Debentures (plus accrued interest), and 174,209 common shares were issued at $7.50 per share in connection with the conversion of $1,296,000 principle amount in Series 2 Unsecured Convertible Subordinated Debentures. As at February 28, 2012, WesternOne Inc. had 22,377,185 common shares, $8,281,000 principal amount of Unsecured Convertible Subordinated Debentures and $77,368,000 principal amount of Series 2 Unsecured Convertible Subordinated Debentures outstanding.
The policy of WesternOne Inc. 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.
About WesternOne Inc.
WesternOne Inc. 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.
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SOURCE WesternOne Inc.