Logistec Corporation Announces a Correction on the Payment Date for the Quarterly Dividend and Special Cash Dividend
MONTREAL, July 2, 2014 /CNW Telbec/ - The Board of Directors of Logistec Corporation (TSX: LGT.A LGT.B) announced on May 7, 2014 that it had declared quarterly dividends of $0.105 per share on all outstanding "pre-split" Class A Common Shares ("Class A Shares") and $0.1155 per share on all outstanding "pre-split" Class B Subordinate Voting Shares ("Class B Shares"). The dividends will be paid on Monday, July 7, 2014 rather than Friday, July 4, 2014 to all Logistec Corporation shareholders of record at the close of business on Friday, June 20, 2014.
The Board of Directors of Logistec Corporation also announced on May 7, 2014 that it had declared special cash dividends of $1.50 per share on all outstanding "pre-split" Class A Shares and $1.65 per share on all outstanding "pre-split" Class B Shares. The dividends will also be paid on Monday, July 7, 2014 rather than Friday July 4, 2014 to all Logistec Corporation shareholders of record at the close of business on Friday, June 20, 2014. This special dividend reflects Logistec's strong 2013 operating results and enviable cash position while still allowing for the financial flexibility to continue to invest in both our existing operations and new opportunities.
Except for the payment date, everything else remains unchanged for both the quarterly and special cash dividends.
Logistec Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 27 ports in Eastern Canada, the Great Lakes and the U.S. East Coast. Logistec also offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Furthermore, the Company operates in the environmental sector where it provides services to industrial, municipal, and other governmental customers for the trenchless structural rehabilitation of underground water mains, PCB management, site remediation, risk assessment, and woven-hose manufacturing.
The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, Logistec's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained at the Company's website at www.logistec.com.
SOURCE Logistec CorporationFor further information:
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