TORONTO, Feb. 1, 2017 /PRNewswire/ - Exco Technologies Limited (TSX-XTC) today announced a quarterly cash dividend of $0.08 per common share to be paid on March 31, 2017 to shareholders of record on March 15, 2017. This dividend represents a 14% increase. The dividend is an "eligible dividend" in accordance with the Income Tax Act of Canada.
Brian Robbins, CEO of Exco said, "Strong financial performance continues to fuel cash generation and debt reduction. In light of this and after having reviewed Exco's capital needs over the balance of the year together with its liquidity position, I am pleased to announce this dividend increase". This is the eighth increase in seven years during which time the dividend increased over 300%.