Acadian Timber Corp. Announces Declaration of Dividend
March 19 2010 - 4:36PM
Marketwired
Acadian Timber Corp. ("Acadian" or the "Corporation") (TSX: ADN) is
pleased to announce a dividend of $0.05 per share, payable on April
15, 2010 to shareholders of record on 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. 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
www.acadiantimber.com
Acadian Timber (TSX:ADN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Acadian Timber (TSX:ADN)
Historical Stock Chart
From Jul 2023 to Jul 2024