Stock Symbol: MBT
WINNIPEG, May 17 /CNW/ - Manitoba Telecom Services Inc. (the "Company" or "MTS Allstream"), including its two primary operating units "MTS" and "Allstream", today announced that the Toronto Stock Exchange ("TSX") has approved the establishment of its Dividend Reinvestment and Share Purchase Plan (the "Plan") for qualified holders of its common shares.
"MTS Allstream is pleased to provide this convenient reinvestment option for its shareholders," said Wayne Demkey, Chief Financial Officer, MTS Allstream. "This plan provides convenience for our shareholders, allowing any dividends to be automatically reinvested as common shares without having to pay brokerage commissions."
The Plan allows qualified shareholders to acquire additional common shares through the reinvestment of any cash dividends paid on their respective shareholdings. Initially, the additional common shares on the reinvestment of dividends will be issued from treasury at a discount of 3% from the average market price.
On May 6, 2010, the Company's Board of Directors declared a cash dividend of $0.65 per share for the second quarter of 2010, which is payable on July 15, 2010 to shareholders of record on June 30, 2010. The Board of Directors decided to extend the record date to allow qualified shareholders sufficient time in which to enroll in the Plan. An information package on the Plan will be mailed to registered shareholders shortly. Information on the Plan is also available at www.mtsallstream.com.
About Manitoba Telecom Services Inc.
Manitoba Telecom Services Inc., through its wholly-owned subsidiary MTS Allstream Inc., is one of Canada's leading national communication solutions companies, providing innovative communications for the way Canadians want to live and work today. The Company has more than 100 years of experience, with 6,000 employees across Canada dedicated to a mission of delivering true value as seen through the eyes of our customers. MTS Allstream has nearly two million total customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national broadband and fibre optic network spans almost 30,000 kilometres. MTS Allstream is a proud sponsor of Cindy Klassen, 2006 World Champion and Canada's greatest Olympian, and a proud contributor to the Canadian Museum for Human Rights. Manitoba Telecom Services Inc.'s common shares are listed on the Toronto Stock Exchange (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream services, markets, community commitments and record of creating shareholder value are encouraged to visit: www.mtsallstream.com.
Forward-looking Statements Disclaimer
This news release includes forward-looking statements and information (collectively, the "statements") about our corporate direction, business opportunities, actions, operations, financial objectives and future financial results and performance that are subject to risks, uncertainties and assumptions. As a consequence, actual results in the future may differ materially from any conclusion, forecast or projection in such forward-looking statements. Examples of statements that constitute forward-looking information may be identified by words such as "believe", "expect", "project", "should", "anticipate", "could", "target", "forecast", "intend", "plan", "outlook", "see", "set", "pending", and other similar terms.
Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters identified in the "Risks and Uncertainties" section and elsewhere in our interim MD&A for the first quarter of 2010, as well as our 2009 annual MD&A, and our Annual Information Form, all of which are available on SEDAR at www.sedar.com. The declaration and payment of any future dividends is at the discretion of the Company's Board of Directors.
Please note that forward-looking statements reflect our expectations as at the date hereof. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
SOURCE MTS Allstream
For further information: For further information: Media: Greg Burch, MTS Allstream Corporate Communications, (204) 941-8576, (416) 345-3576, firstname.lastname@example.org; Investors: Paul Peters, MTS Allstream Investor Relations, (204) 941-6178, email@example.com