SYMBOL: TSX: AGT
REGINA, Oct. 5 /CNW/ - Alliance Grain Traders Inc. ("AGT") (TSX: AGT) today announced its cash dividend for the quarter ending September 30, 2009 of $0.135 per common share. The dividend will be payable on or before October 9, 2009 to shareholders of record on September 30, 2009. This dividend is an eligible dividend for Canadian income tax purposes. AGT's current annualized cash dividend rate is approximately $0.54 per share. AGT completed its conversion from an income trust to a corporation on September 15, 2009.
"The Board of Directors recognizes that investors in our Company desire dividends and a growth strategy. We will continue on our path to deliver both", said Murad Al-Katib, Chairman of the Board of Directors and President and CEO of Alliance Grain Traders Inc.
AGT is a corporation which derives its income from the operations of its operating subsidiary, Alliance Pulse Processors Inc. ("Alliance"). Alliance, on its own and through its subsidiaries, is engaged in the business of sourcing and processing (cleaning, splitting, sorting and bagging) specialty crops, primarily for export markets. Alliance and its subsidiaries in Canada, U.S. and Australia handle the full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed through six processing plants. The recent acquisition of the Arbel Group brings to Alliance, state-of-the-art processing and production facilities in Mersin, Turkey. The Arbel Group has a 50-year operating history and has grown to become a leading processor of lentils and grains and the largest exporter of pulses in Turkey. In 2002, the Arbel Group expanded its operations to include the production of pasta and has quickly grown to become the fourth largest pasta producer in the country. Turkey is the second largest exporter of pasta in the world after Italy and the Arbel Group is the top exporter of pasta in Turkey.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company (including its operating subsidiaries) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests, fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated, accidents or labour disputes, risks relating to the integration of acquisitions or to international operations, as well as those factors referred to in the section entitled "Risk Factors" in the prospectus of the Corporation's predecessor, Alliance Grain Traders Income Fund, dated December 30, 2004 which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE AGT Food and Ingredients Inc.
For further information: For further information: Investor Relations, Omer Al-Katib, (306) 244-1318, firstname.lastname@example.org