Circa Announces Special Dividend
CALGARY, AB, Dec. 12 /PRNewswire-FirstCall/ - Circa Enterprises Inc. (CTO- TSX), a manufacturer of surge protection devices and related components for the telecom industry, is pleased to announce that its Board of Directors has approved a special cash dividend of $0.30 per common share payable to shareholders of record as of January 10, 2003. This dividend represents approximately fifteen months of cash flow from operations and leaves Circa with cash reserves to fund forecasted capital expenditures. Circa will continue to search for growth prospects where appropriate. The Board of Directors of Circa is pleased to provide a return to its shareholders and the dividend reflects Circa's ongoing profitable operations. At this time the Company is not establishing a policy of regular dividend payments, however the Board of Directors will continue to review Circa's financial position for the opportunity for future returns to shareholders. Circa Enterprises Inc. is a public company with offices in Alberta, Ontario, and Florida, trading on the Toronto Stock Exchange under ticker symbol CTO. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
SOURCE Circa Enterprises Inc.