CU Inc. Announces Redemption of Cumulative Redeemable Preferred Shares Series 2
April 29 2014 - 3:31PM
Marketwired
CU Inc. Announces Redemption of Cumulative Redeemable Preferred
Shares Series 2
CALGARY, ALBERTA--(Marketwired - Apr 29, 2014) - CU Inc.
announced today that it will redeem on June 1, 2014 all of its
outstanding Cumulative Redeemable Preferred Shares Series 2 at a
price of $25.00 per share. The $160 million aggregate cost of
redemption will be funded from cash.
Series |
Rate |
|
Shares Outstanding |
TSX Stock Symbol |
Dividend Per Share ($) |
Series 2 |
6.70 |
% |
6,400,000 |
CIU.PR.B |
0.41875 |
CU Inc. is a wholly owned subsidiary of Canadian Utilities
Limited, part of the ATCO Group of Companies. An Alberta-based
corporation with more than 5,300 employees and assets of
approximately $12 billion, CU Inc. is comprised of rate regulated
utility operations in pipelines, natural gas and electricity
transmission and distribution. More information about CU Inc. can
be found on the Canadian Utilities Limited website at
www.canadianutilities.com.
Forward-Looking Information:
Certain statements contained in this news release may
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
The Corporation's actual results could differ materially
from those anticipated in these forward-looking statements as a
result of regulatory decisions, competitive factors in the
industries in which the Corporation operates, prevailing economic
conditions, and other factors, many of which are beyond the control
of the Corporation.
The forward-looking statements contained in this news
release represent the Corporation's expectations as of the date
hereof, and are subject to change after such date. The Corporation
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities regulations.
CU Inc.B.R. (Brian) BaleSenior Vice President & Chief
Financial Officer(403) 292-7502
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