Stock Exchange: TSX
CALGARY, Nov. 7 /CNW/ - Pason Systems Inc. today declared a semi-annual
dividend of eight and one-half cents (C$0.085) per share on the Company's
common shares. The dividend will be paid on January 2, 2008 to shareholders of
record at the close of business on December 14, 2007.
The Board of Directors of Pason Systems Inc. declared the dividend upon
recommendation of a Special Committee of independent directors, which includes
James B. Howe and Murray L. Cobbe. Mr. Jim Hill, the major shareholder through
J.D. Hill Investments Ltd., abstained from voting. The Special Committee
considered the advisability and fairness of this semi-annual dividend as part
of its adoption of a semi-annual dividend policy in November of 2003.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to
Canadian residents are considered to be "eligible" dividends.
Pason Systems Inc. is the world's largest provider of rental oilfield
instrumentation systems that are designed and manufactured for use on
land-based drilling and service rigs. Pason has elevated the scope of oilfield
instrumentation from its historical commodity priced framework by offering a
tightly integrated package of complex services including data acquisition,
wellsite reporting software, remote communications and Internet information
Pason's common shares trade on the Toronto Stock Exchange under the
symbol PSI. For additional information visit the website at www.pason.com.
For further information:
For further information: Jim Hill, President and CEO, (403) 301-3401,
email@example.com; Jim Glasspoole, Chief Financial Officer, (403) 692-3840,