Exco Quarterly Dividend Raised 6%
TORONTO, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Exco Technologies Limited (TSX-XTC) today announced a quarterly cash dividend of $0.09 per common share to be paid on March 29, 2019 to shareholders of record on March 15, 2019. This dividend represents a 6% increase from previous levels. The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.
Brian Robbins, Executive Chair of Exco said, “I am pleased to announce this dividend increase, which reflects our confidence in Exco’s ability to continue generating significant free cash flow in the years ahead.” The annualized dividend represents 35% of Exco’s trailing twelve month net income. This is the eleventh time Exco has raised its dividend in ten consecutive years during which time the dividend increased 450%.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 15 strategic locations in 7 countries, we employ 5,350 people and service a diverse and broad customer base.
Source: Exco Technologies Limited (TSX-XTC) Contact: Darren Kirk, Executive Vice President and Chief Operating Officer Telephone: (905) 477-3065 Ext. 7233 Website: http://www.excocorp.com