VANCOUVER, Jan. 21, 2014 /PRNewswire/ - WesternOne Inc. (TSX: WEQ) (TSX: WEQ.DB) (TSX: WEQ.DB.B) (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 January 2014 (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on February 17, 2014 to shareholders of record at the close of business on January 31, 2014.
During December 2013, 20,739 common shares were issued at $5.25 per share in connection with the conversion of $105,000 principal amount in 8.5% Convertible Unsecured Subordinated Debentures (plus accrued interest), 3,176 common shares were issued at $7.50 per share in connection with the conversion of $23,000 principal amount in 8% Convertible Series 2 Unsecured Subordinated Debentures (plus accrued interest) and 5,860,000 common shares were issued in connection with the previously announced bought deal offering. As at December 31, 2013, WesternOne Inc. had 30,159,699 common shares, $3,457,000 principal amount of 8.5% Convertible Unsecured Subordinated Debentures, $71,102,000 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.