BURNABY, BC, Jan. 4 /CNW/ - The board of directors of GLENTEL Inc. (TSX: GLN) is pleased to declare
a quarterly dividend of $0.1475/share, for shareholders of record as of
Tuesday, January 11, 2011, payable Thursday, January 27, 2011.
This dividend represents a $.05 or 51% increase, quarter over quarter
for the corresponding period in 2010.
"The dividend increase reflects the board of directors' desire to
declare a regular quarterly dividend that better reflects the company's
growing and sustainable annual net earnings," stated Thomas Skidmore,
GLENTEL's president and chief executive officer. "In conjunction with
regular dividends, the board of directors may consider an extraordinary
dividend in the 4th quarter for a combined dividend distribution up to 50% of the company's
annual net earnings."
GLENTEL (TSX: GLN) is a leading provider of innovative and reliable
telecommunications services and solutions in Canada and the United
States. Founded in 1963 and headquartered in Burnaby, BC, GLENTEL
comprises three operating divisions - Retail Canada, Retail U.S. and
Business - that service thousands of consumers and commercial
communications customers. The company operates more than 280 stores
across Canada located primarily in retail malls and Costco Wholesale,
as well as 140 stores in the United States. To its business and
government customers, GLENTEL offers wireless service, rental
equipment, satellite and terrestrial network systems, tower sites, and
wireless asset monitoring. As the largest multi-carrier mobile phone
retailer in Canada, it offers a choice of network carrier and wireless
device or phone to Canadian consumers. GLENTEL operates its business
under the trading names Glentel Wireless, WIRELESSWAVE, WAVE SANS FIL,
Tbooth wireless, la cabine T sans fil, WIRELESS etc. and SANS FIL etc.,
and Diamond Wireless - Verizon Premium Retailer in the U.S.
NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY
HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
To secure a copy of GLENTEL's annual report or for additional
information visit www.glentel.com or www.sedar.com.
SOURCE Glentel Inc.
For further information:
|Investor Relations Contact: |
Jas Boparai, Chief Financial Officer
| || || || || || ||Media Contact:|
Shafiq Jamal, VP
James Hoggan & Associates