Winalta Announces Increase in Quarterly Dividend
CALGARY, March 5, 2014 /CNW/ - Winalta Inc. ("Winalta" or the "Company") is pleased to announce a quarterly cash dividend of $0.02 per class "A" common share payable on March 31, 2014 to all shareholders of record on March 17, 2014. The ex-dividend date for this payment is March 13, 2014. This dividend is an eligible dividend for Canadian income tax purposes.
The Board of Directors has approved a $0.01 per share quarterly dividend increase to $0.02 per share for an effective $0.08 per share dividend on an annualized basis. The increase in the quarterly dividend is a result of strong operating performance in conjunction with better visibility of revenue in deployment of both Integrated Wellsites Systems and conventional Wellsites in the steadier SADG and Pad drilling industry.
Winalta Oilfield Rentals specializes in innovative and high-quality modular buildings for the Western Canadian Oil and Gas Industry. Winalta's rental fleet is comprised of single-unit Wellsites, Integrated Wellsite Systems (IWS), Dedicated Geo Labs, and Drill Camps.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this press release, including the timing of the payment of the dividend on the Company's shares may constitute forward-looking statements. By their nature, forward-looking statements involve material assumptions and are subject to numerous risks and uncertainties, including with respect to market and economic conditions and their impact on the Company's business, some of which, are beyond the Company's control. Readers are cautioned not to place undue reliance on the forward-looking statements as the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or outcomes could materially differ from those expressed or implied in such forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by forward looking statements will transpire or occur, or if any of them do so, what benefit Winalta will derive there from. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
SOURCE Winalta Inc.For further information:
Austin Fraser, President
Phone: (403) 826-5701
David Hopley, CFO
Phone: (780) 469-0143