EDMONTON, Feb. 15, 2012 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:
ACQ) today announced that its Board of Directors has declared a
quarterly eligible dividend of $0.14 per common share, an increase of
17% from the previous quarterly dividend of $0.12 per common share.
The dividend is payable on March 15, 2012 to shareholders of record at
the close of business on February 29, 2012. The declared dividend
represents a rate of $0.56 per share on an annualized basis.
"Having reviewed the Company's performance, Management and the Board of
Directors believe that the dividend is appropriate and are pleased to
have raised our dividend for the fourth consecutive quarter." stated
Pat Priestner, Chief Executive Officer of AutoCanada.
AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 24 franchised dealerships in six
provinces and has over 1,100 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Infiniti, Nissan, Hyundai, Subaru,
Mitsubishi and Volkswagen branded vehicles. In 2010, our dealerships
sold approximately 24,000 vehicles and processed approximately
317,000 service and collision repair orders in our 339 service bays at
Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.
SOURCE AutoCanada Inc.
For further information:
Jeff Christie, CA
Phone: (780) 732-7164