VANCOUVER, May 21, 2013 /PRNewswire/ - WesternOne Inc. (TSX: WEQ, WEQ.DB, WEQ.DB.B 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 May 2013 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on June 17, 2013 to shareholders of record at the close of business on May 31, 2013.
During April 2013, 45,563 common shares were issued at $5.25 per share in connection with the conversion of $234,000 principal amount in 8.5% Convertible Unsecured Subordinated Debentures (plus accrued interest), and 37,609 common shares were issued at $7.50 per share in connection with the conversion of $275,000 principle amount in 8% Convertible Series 2 Unsecured Subordinated Debentures (plus accrued interest). As at April 30, 2013, WesternOne Inc. had 24,002,923 common shares, $4,308,000 principal amount of 8.5% Convertible Unsecured Subordinated Debentures, $71,452,000 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 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.