TORONTO, Jan. 30, 2013 /PRNewswire/ - Exco Technologies Limited (TSX-XTC) today announced a quarterly cash dividend of $0.045 per share will be paid March 29, 2013 to shareholders of record on March 15, 2013. This dividend represents an increase 20% or 3 cents per share on an annualized basis from 15 cents per share to 18 cents per share. The dividend is an "eligible dividend" in accordance with the Income Tax Act of Canada.
Brian Robbins, CEO of Exco said "strong business fundamentals continue to support our financial performance. In light of this and after having reviewed Exco's capital needs over the balance of the year and its liquidity position I am pleased to announce this dividend increase. This increase follows an increase of 25% which took place in fiscal 2012.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 11 strategic locations, we employ 2,216 people and service a diverse and broad customer base.
SOURCE Exco Technologies Limited