CINCINNATI, Aug. 14, 2012
/PRNewswire/ -- CECO Environmental Corp. (NasdaqGM:
CECE), a leading global provider of air pollution control
technology and industrial ventilation systems, today announced that
its Board of Directors is raising its quarterly dividend 29% to
$0.045 per share from the previous
quarterly dividend of $0.035 per
share. The dividend will be paid on September 28, 2012, to all shareholders of record
at the close of business on September
14, 2012.
CECO also announced today that its Board of Directors has
approved a Dividend Reinvestment Plan (the "Plan") for eligible
holders of CECO common shares. Participants in the Plan can
increase their holdings by having all or a certain portion of their
dividends (if, as and when declared by the CECO's Board of
Directors and paid) reinvested in CECO common stock at a discount
to the market price, as described in the Plan. American Stock
Transfer & Trust Company ("AST") will serve as CECO's plan
administrator.
Registered CECO shareholders, those shareholders that hold the
shares in their own name, wishing to participate in the Plan will
be able to find the full text of the Plan prospectus and enrollment
forms at www.amstock.com. Non-registered beneficial
shareholders, those shareholders who hold the shares in an account
with a broker, are advised to contact their brokers, investment
dealers or other financial intermediaries for details on how to
participate in the Plan.
CECO filed a registration statement (including a prospectus)
yesterday with the Securities and Exchange Commission to register
common stock to be offered under the Plan. Before enrolling,
shareholders are advised to read the complete text of the Plan
prospectus and to consult with their financial advisors regarding
their individual investment profile and tax situation.
Shareholders may request a Plan prospectus by contacting AST at
(866) 708-5574. The Plan prospectus is also available by
visiting the SEC web site at www.sec.gov.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction, nor
shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading global provider of air
pollution control technology. Through its subsidiaries –
Busch International, CECO Filters, CECO Abatement Systems, Kirk
& Blum, Effox-Flextor, Fisher-Klosterman/Buell, CECO China and
A.V.C. Specialists – CECO provides a wide spectrum of air quality
products and services including engineered equipment, cyclones,
scrubbers, dampers, diverters, RTO's, component parts and
monitoring and management services. Industries served include
refining, petro-chemical, power, aluminum, steel, automotive,
chemical and large industrial processes. Revenue from
engineered equipment technology is approximately 75% and 25% from
parts, services and aftermarket. Global growth, operational
excellence, margin expansion, safety leadership and employee
development are CECO's core strategies and long term
objectives.
For more information on CECO Environmental, please visit the
company's website at http://www.cecoenviro.com.
Contact:
Corporate Information
Jeff Lang, CECO
Environmental Corp.
1-800-333-5475
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All forward-looking statements are subject to certain risks,
uncertainties and assumptions. These risks and uncertainties, which
are more fully described in CECO's Annual and Quarterly Reports
filed with the Securities and Exchange Commission, include, but are
not limited to: our dependence on fixed price contracts and the
risks associated therewith, including actual costs exceeding our
estimates and our method of accounting for contract revenue; our
history of losses and possibility of further losses; fluctuations
in operating results from period to period due to seasonality of
our business; the effect of growth on our infrastructure,
resources, and existing sales; our ability to expand our operations
in both new and existing markets; the potential for contract delay
or cancellation; the potential for fluctuations in prices for
manufactured components and raw materials; the impact of federal,
state or local government regulations; economic and political
conditions generally; and the effect of competition in the air
pollution control and industrial ventilation industry. Should one
or more of these risks or uncertainties materialize, or should the
assumptions prove incorrect, actual results may vary in material
aspects from those currently anticipated. Investors are cautioned
not to place undue reliance on such forward-looking statements as
they speak only to our views as of the date the statement is made.
Except as required by law, we undertake no obligation to publicly
update or revise any forward-looking statements, whether because of
new information, future events or otherwise.
SOURCE CECO Environmental Corp.