TORONTO,
Jan. 29, 2014 /CNW/ - Exco
Technologies Limited (TSX-XTC) today announced a quarterly cash
dividend of $0.05 per share to be
paid March 28, 2014 to shareholders
of record on March 14, 2014. This
dividend represents an 11% increase. On an annualized basis,
the dividend will increase from 18
cents per share to 20 cents
per share. The dividend is an "eligible dividend" in accordance
with the Income Tax Act of Canada.
Brian Robbins,
CEO of Exco said "strong business fundamentals continue to support
our financial performance. In light of this and after having
reviewed Exco's capital needs over the balance of the year, its
liquidity position and the pending purchase of Automotive Leather
Company Group (PTY) Limited ("ALC"), I am pleased to announce this
dividend increase". This is the fourth increase in four years over
which the dividend increased 150%.
Exco Technologies Limited is a global
supplier of innovative technologies servicing the die-cast,
extrusion and automotive industries. Through our 13 strategic
locations, we employ 2,354 people and service a diverse and broad
customer base. Upon completion of the ALC acquisition, Exco will
have 18 locations and employ approximately 5,000 people in 12
countries.
SOURCE Exco Technologies Limited