Acadian Timber Corp. Announces Quarterly Dividend
March 08 2011 - 8:21PM
Marketwired
Acadian Timber Corp. ("Acadian" or the "Corporation") (TSX: ADN) is
pleased to announce its quarterly dividend of $0.20625 per share,
payable on April 15, 2011 to shareholders of record on March 31,
2011.
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 100 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 and its subsidiaries
(collectively, "Acadian"), 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 management's beliefs, 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 similar statements concerning anticipated future
events, results, achievements, circumstances, performance or
expectations that are not historical facts. 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; and other risks and factors, to the
extent they remain applicable to the Corporation, discussed under
the heading "Risk Factors" in each of the Annual Information Form
dated March 26, 2010 and the Management Information Circular dated
March 26, 2010 of Acadian Timber Corp., and other filings of the
Corporation with securities regulatory authorities, which are
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 Acadian. 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:
anticipated financial performance; business prospects; strategies;
regulatory developments; exchange rates; the sufficiency of
budgeted capital expenditures in carrying out planned activities;
the availability and cost of labour and services and the ability to
obtain financing on acceptable terms, which are subject to change
based on commodity prices, market conditions for timber and wood
products, the 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. Certain statements in this New Release may also be
considered "financial outlook" for the purposes of applicable
Canadian securities laws, and such financial outlook may not be
appropriate for purposes other than this News Release. The
forward-looking statements in this News Release are made as of the
date of this News Release, and should not be relied upon as
representing Acadian'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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