TORONTO, ONTARIO -- (Marketwire) -- 05/02/12 -- Just Energy Group Inc. (TSX:JE)(NYSE:JE) filed notice with the Toronto Stock Exchange and the New York Stock Exchange today announcing its May dividend. A dividend of Cdn. $0.10333/common share (Cdn. $1.24 annually) will be paid on May 31st, 2012 to shareholders of record at the close of business on May 15, 2012. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. The common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "JE".
Just Energy also reports that at April 30th,, 2012 the conversion price for each Cdn. $1,000 of its outstanding 6% convertible unsecured subordinated debenture issued on October 2, 2007 (TSX:JE.DB.A) has been adjusted in accordance with the Trust Indenture dated October 2, 2007, as supplemented from time to time, to Cdn. $29.11 convertible into 34.36 common shares of Just Energy Group Inc.
Just Energy Group Inc.
Just Energy's business primarily involves the sale of natural gas and/or electricity to residential and commercial customers under long-term fixed-price, price-protected or variable-priced contracts and green energy products. By fixing the price of natural gas or electricity under its fixed-price or price-protected program contracts for a period of up to five years, Just Energy's customers offset their exposure to changes in the price of these essential commodities. Variable rate products allow customers to maintain competitive rates while retaining the ability to lock into a fixed price at their discretion. Just Energy, which commenced business in 1997, derives its margin or gross profit from the difference between the price at which it is able to sell the commodities to its customers and the related price at which it purchases the associated volumes from its suppliers. Just Energy also offers "green" products through its JustGreen and JustClean programs. The electricity JustGreen product offers the customer the option of having all or a portion of his or her electricity sourced from renewable green sources such as wind, run of the river hydro or biomass.