Churchill Announces Dividend Reinvestment Plan

CALGARY, June 20, 2011 /CNW/ - The Churchill Corporation (TSX: CUQ, CUQ.DB) ("Churchill" or the "Corporation") announced today the commencement of a Dividend Reinvestment Plan (the "DRIP" or "Plan"). Eligible shareholders may elect to participate in the DRIP for all future cash dividends payable by the Corporation. On May 25, 2011, Churchill declared its first ever quarterly dividend of $0.12 per share, payable on July 15, 2011 to shareholders of record on June 30, 2011. The ex-dividend date is June 28, 2011.

"Our dividend reinvestment plan is an excellent opportunity for eligible investors to share in our confidence in the business outlook and future growth potential of Churchill by reinvesting their dividends back into the common shares of the Corporation," said Jim Houck, Churchill's President and CEO.

The DRIP allows eligible shareholders to direct that cash dividends payable on their common shares of the Corporation ("Common Shares") be reinvested in additional Common Shares which, when issued from treasury, will be issued at 95% of the weighted average market price of all Common Shares traded on the Toronto Stock Exchange (the "Exchange") on the 10 trading days preceding the dividend payment date (the "Investment Price").

Registered shareholders may enrol in the DRIP by completing an enrolment form and submitting the completed form to CIBC Mellon Trust Company, with Canadian Stock Transfer Company acting as the Administration Agent (the "Plan Agent") as set out in the DRIP.  Under the terms of the DRIP, enrolment forms must be provided to the Plan Agent at least five days before the record date of any dividend payment. Notwithstanding this requirement, the Plan Agent will accept enrolment forms until June 28, 2011 for the June 30, 2011 record date. Beneficial shareholders are encouraged to contact their financial institution, broker or other intermediary for enrolment information. Enrolment forms for both registered and beneficial shareholders received after the June 28, 2011 enrolment deadline will be effective for dividends paid subsequent to July 15, 2011.

A complete copy of the DRIP and the enrolment form is available by following the "Dividends" link on the "Investor Information" page of Churchill's website at and will also be available from the Plan Agent by calling 1-800-387-0825, or on their website at Quarterly dividends are only payable as and when declared by Churchill's Board of Directors and there is no entitlement to any dividend prior thereto. Shareholders should carefully read the complete text of the Plan before making decisions regarding their participation in the Plan.

No commissions, service charges or brokerage fees are payable in connection with the purchase of Common Shares from Churchill's treasury under the DRIP. Eligible shareholders who wish to participate in the DRIP indirectly through a financial institution, broker or other intermediary through which their Common Shares are held should consult such financial institution, broker or intermediary to confirm whether commissions, service charges or other fees are payable.

Participation in the DRIP does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in Common Shares under the DRIP. Shareholders should consult their tax advisors concerning the tax implications of their participation in the DRIP, having regard to their particular circumstances.

Registered and beneficial owners of Common Shares who are resident in the United States of America or any other jurisdiction where their participation is not permissible are not eligible to participate in the DRIP.

Under the terms of the DRIP, eligible holders of Common Shares may reinvest their cash dividends from Common Shares in new Common Shares issued from treasury at the Investment Price or, at the discretion of the Corporation, in Common Shares acquired through the facilities of the Exchange. Common Shares acquired through the facilities of the Exchange will be credited to participants accounts based upon the average market purchase price on the Exchange. It is currently the intention of the Corporation to issue Common Shares from treasury at the Investment Price to satisfy the requirements of the DRIP.

About The Churchill Corporation
The Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba, northwest Ontario and the Yukon. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively.



SOURCE The Churchill Corporation

For further information:

James C. Houck, B.Sc., MBA
President and Chief Executive Officer
The Churchill Corporation
(403) 685-7777
Andrew Apedoe
Vice President Investor Relations & Secretary
The Churchill Corporation
(403) 685-7775
Ken Wetherell, CFA
Director, Investor Relations
The Churchill Corporation
(403) 685-7776


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