TORONTO, April 25, 2012 /PRNewswire/ - Exco Technologies Limited (TSX-XTC) today announced a quarterly cash dividend of $0.0375 per share will be paid June 29, 2012 to shareholders of record on June 13, 2012. This dividend represents a quarterly increase of $0.0075 or a 3 cents increase per share on an annualized basis from 12 cents per share to 15 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." On an annualized basis this increase of $0.03 per share represents an increase of 25% and follows an increase of 50% which took place in fiscal 2011.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 10 strategic locations, we employ 2,169 people and service a diverse and broad customer base.
SOURCE Exco Technologies Limited