Declares Q3 dividend payable October 15, 2010
TORONTO, Aug. 6 /CNW/ - Pareto Corporation (TSX: PTO), a leading Shopper Marketing company, today announced that its Board of Directors has declared that it will increase the quarterly dividend to $0.03 per issued and outstanding common share. The Board of Directors also declared the Q3 dividend of $0.03 per issued and outstanding common share will be payable on October 15, 2010, to shareholders of record at the close of business on September 30, 2010.
"In light of our continued strong growth and increased cash flow, the Board of Directors has elected to increase our quarterly dividend by 50%," said Kerry Shapansky President and CEO of Pareto. "We are pleased to be able to provide this dividend income to our shareholders while maintaining the financial flexibility to selectively evaluate acquisition opportunities as they emerge."
Pareto advises that this dividend is designated as an "eligible dividend" as defined in subsection 89(1) of the Income Tax Act (Canada) and corresponding provincial legislation.
About Pareto Corporation
Pareto Corporation is a Shopper Marketing company that offers marketing execution solutions to leading companies in a broad range of industry sectors. Pareto provides measurable, quantifiable services that complement our clients' marketing and sales departments. For more information, please visit our website at www.pareto.ca.
This press release contains forward-looking statements related to expected future events and financial operating results of Pareto that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in Pareto's SEDAR filings.
SOURCE PARETO CORPORATION
For further information: For further information: Kerry Shapansky, President and Chief Executive Officer, Pareto Corporation, (416) 790-2350; Karen Trudell, Chief Financial Officer, Pareto Corporation, (416) 790-2360; Glen Williams, Investor Relations, Equicom Group, (416) 815-0700 ext 272