LISTING: TORONTO STOCK EXCHANGE
TORONTO, April 25 /CNW/ - Bird Construction Inc. (TSX: BDT) ("Bird") confirmed today that its previously announced three-for-one stock split by dividend (the "Stock Split") was completed on Friday, April 22, 2011. Pursuant to the Stock Split, each shareholder of record as of the close of business on April 14, 2011, the record date of the Stock Split (the "Record Date"), has received an additional two common shares of Bird ("Shares"). The additional Shares issued pursuant to the Stock Split commenced trading on the Toronto Stock Exchange (the "TSX") on an ex-dividend basis on April 12, 2011.
Registered shareholders of Bird as of the Record Date will receive direct registration statements representing the additional Bird Shares issued to them as a result of the Stock Split in the coming days, if not already received. Non-registered shareholders' brokerage accounts should have already been credited with the additional Bird Shares to which they are entitled as a result of the Stock Split.
No income tax will be payable by Canadian resident shareholders and non-resident shareholders will not be subject to Canadian withholding tax as a result of the Stock Split. For additional information about the potential tax consequences of the Stock Split, shareholders are advised to consult with their personal financial or tax advisor.
Bird has previously announced its intention to commence paying dividends on its Shares monthly instead of quarterly, beginning with the month of April 2011, which dividend will be paid on May 20, 2011. After adjusting for the impact of the Stock Split, the April 2011 dividend will be $0.055 per Share.
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future, including the future rate of dividends to be paid by Bird. Many factors, including those described herein, could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Bird Construction Inc.
For further information: T.J. Talbott, President & C.E.O. or S.R. Entwistle, C.F.O., Bird Construction Inc., 5403 Eglinton Avenue West, Toronto, ON, M9C 5K6, Phone: (4l6) 620-7122, Fax: (416) 620-1516