Valener and Gaz Métro report their fiscal 2016 second quarter results

May 4, 2016 - Financial releases

Montréal, May 13, 2016 – Valener Inc. (“Valener”) (TSX: VNR) (TSX: VNR.PR.A), the public investment vehicle in Gaz Métro Limited Partnership (“Gaz Métro”), today reported adjusted net income attributable to common shareholders of $32.4 million for the second quarter of fiscal 2016, unchanged from the second quarter of fiscal 2015. Among other factors, this stability is the result of an increase in Gaz Métro’s net income tempered by more moderate winter winds at the Seigneurie de Beaupré wind farms. Adjusted net income per common share stood at $0.84 in the second quarter of fiscal 2016 compared to $0.85 in the same quarter last year, as greater participation in the dividend reinvestment plan increased the number of common shares outstanding. For the first six months of fiscal 2016, Valener’s adjusted net income attributable to common shareholders amounted to $48.9 million ($1.27 per common share) compared to $48.1 million ($1.26 per common share) for the first six months of last year.

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