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 that time.
For further information:
Jeff Christie, CA
Phone: (780) 732-7164
Email: [email protected]