Acadian Timber Corp. Announces Declaration of Dividend
January 04 2010 - 4:42PM
Marketwired
Acadian Timber Corp. (the "Corporation") (TSX: ADN) is pleased to
announce a dividend of $0.01667 per share, payable on January 29,
2010 to shareholders of record on January 15, 2010. This dividend
is in lieu of the undeclared December 2009 distribution of Acadian
Timber Income Fund. Subsequent to this January dividend, the
Corporation intends to pay quarterly dividends of $0.05 per share
per quarter ($0.20 per share annualized) beginning with the
dividend for March 31, 2010.
Acadian Timber Corp. is a leading supplier of primary forest
products in Eastern Canada and the Northeastern U.S. With a total
of 2.4 million acres of land under management, Acadian is the
second largest timberland operator in New Brunswick and Maine.
Acadian owns and manages approximately 1.1 million acres of
freehold timberlands in New Brunswick and Maine, and provides
management services relating to approximately 1.3 million acres of
Crown licensed timberlands. Acadian also owns and operates a forest
nursery in Second Falls, New Brunswick. Acadian's products include
softwood and hardwood sawlogs, pulpwood and biomass by-products,
sold to over 110 regional customers.
Acadian's shares are listed for trading on the Toronto Stock
Exchange under the symbol ADN.
For further information, please visit our website at
www.acadiantimber.com.
Forward-Looking Statements
This News Release contains forward-looking information and other
forward-looking statements within the meaning of applicable
Canadian securities laws that involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Corporation, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. When used in this News Release, such
statements may contain such words as "may," "will," "intend,"
"should," "expect," "believe," "outlook," "predict," "remain,"
"anticipate," "estimate," "potential," "continue," "plan," "could,"
"might," "project," "targeting" or the negative of these terms or
other similar terminology. Forward-looking information in this News
Release includes, without limitation, statements regarding
intentions, results, performance, goals, achievements, future
events, plans and objectives, business strategy, access to capital,
liquidity and trading volumes, dividends, taxes, capital
expenditures, projected costs, and anticipated benefits of the
conversion from an income trust to a corporation. These statements
reflect management's current expectations regarding future events
and operating performance, are based on information currently
available to management and speak only as of the date of this News
Release.
All forward-looking statements in this News Release are
qualified by these cautionary statements. Forward-looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future performance or results, should not
be unduly relied upon, and will not necessarily be accurate
indications of whether or not such results will be achieved.
Factors that could cause actual results to differ materially from
the results discussed in the forward-looking statements include,
but are not limited to: general economic and market conditions;
product demand; concentration of customers; commodity pricing;
interest rate and foreign currency fluctuations; seasonality;
weather and natural conditions; regulatory, trade or environmental
policy changes; changes in Canadian income tax law; economic
situation of key customers; failure to realize the anticipated
benefits of the conversion from an income trust to a corporation,;
and other risks and factors, to the extent they remain applicable
to the Corporation, discussed under the heading "Risk Factors" in
the Annual Information Form and other filings with securities
regulatory authorities of Acadian Timber Income Fund, predecessor
reporting issuer to the Corporation, and available on SEDAR at
www.sedar.com. Forward-looking information is based on various
material factors or assumptions, which are based on information
currently available to the Corporation. Material factors or
assumptions that were applied in drawing a conclusion or making an
estimate set out in the forward-looking information may include,
but are not limited to: market conditions for timber and wood
products, economic situation of key customers, and the utilization
of the tax basis resulting from the conversion from an income trust
to a corporation. Readers are cautioned that the preceding list of
material factors or assumptions is not exhaustive. Although the
forward-looking statements contained in this News Release are based
upon what management believes are reasonable assumptions, the
Corporation cannot assure readers that actual results will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this News
Release, and should not be relied upon as representing the
Corporation's views as of any date subsequent to the date of this
news release. The Corporation assumes no obligation to update or
revise these forward-looking statements to reflect new information,
events, circumstances or otherwise, except as required by
applicable law.
Contacts: Acadian Timber Corp. Robert Lee Investor Relations and
Communications 604-661-9607 rlee@acadiantimber.com
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