TORONTO,
July 27, 2011 /PRNewswire/ - Exco
Technologies Limited (TSX-XTC) today announced a quarterly cash
dividend of $0.03 per share will be
paid September 30, 2011 to
shareholders of record on September 15,
2011. This dividend represents a quarterly increase of
$0.005 or a 2
cents increase per share on an annualized basis from
10 cents per share to 12 cents per share. The dividend is an "eligible
dividend" in accordance with the Income Tax Act of Canada.
Brian Robbins, CEO
of Exco said "Recent financial results over the last few quarters
have demonstrated that Exco has sufficient liquidity to meet
working capital and other requirements." This increase, combined
with the last increase in December
2010, represents an increase of 50% in the current fiscal
year.
Exco Technologies Limited is a global supplier
of innovative technologies servicing the die-cast, extrusion and
automotive industries. Through our 10 strategic locations, we
employ 1,994 people and service a diverse and broad customer
base.
This news release contains forward-looking
information and forward-looking statements within the meaning of
applicable securities laws. We use words such as "anticipate",
"plan", "may", "will", "should", "expect", "believe", "estimate"
and similar expressions to identify forward-looking information and
statements especially with respect to consolidated and operational
sales levels and earnings and the future cash flow of the
Company. Such forward-looking information and statements are
based on assumptions and analyses made by us in light of our
experience and our perception of historical trends, current
conditions and expected future developments, as well as other
factors we believe to be relevant and appropriate in the
circumstances. Readers are cautioned not to place undue reliance on
forward-looking information and statements, as there can be no
assurance that the assumptions, plans, intentions or expectations
upon which such statements are based will occur.
Forward-looking information and statements are subject to known and
unknown risks, uncertainties, assumptions and other factors which
may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed, implied or anticipated by such information
and statements. These risks, uncertainties and
assumptions are described in the Company's Management's
Discussion and Analysis included in our 2010 Annual Report, in our
2010 Annual Information Form and, from time to time, in other
reports and filings made by the Company with securities regulatory
authorities.
While the Company believes that the expectations
expressed by such forward-looking information and statements are
reasonable, there can be no assurance that such expectations and
assumptions will prove to be correct. In evaluating
forward-looking information and statements, readers should
carefully consider the various factors which could cause actual
results or events to differ materially from those indicated in the
forward-looking information and statements. Readers are cautioned
that the foregoing list of important factors is not
exhaustive. Furthermore, the Company disclaims any
obligations to update publicly or otherwise revise any such factors
or any of the forward-looking information or statements contained
herein to reflect subsequent information, events or developments,
changes in risk factors or otherwise.
SOURCE Exco Technologies Limited