ShawCor Declares Quarterly Dividend

(TSX: SCL.A, SCL.B)

TORONTO, Nov. 8, 2012 /PRNewswire/ - The Board of Directors today declared a dividend of ten cents (10.0 cents) per Class A Subordinate Voting Share and a quarterly dividend of nine and ninety one, one thousandths cents (9.091 cents) per Class B Multiple Voting Share payable on the 30^th day of November 2012, to shareholders of record at the close of business on the 19^th day of November 2012.

For Canadian resident shareholders, these dividends are designated as "eligible dividends" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

ShawCor will be hosting a Shareholder and Analyst Conference Call and Webcast on Friday, November 9th, at 10:00 AM EST, which will discuss the company's third quarter 2012 financial results.

Please visit our website at www.shawcor.com for further details.

SOURCE ShawCor Ltd.