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
For further information:
Paul Riganelli, Senior Vice-President and Chief Operating Officer
Telephone: (905) 477-3065 ext. 7228