TORONTO, Jan. 31, 2018 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX:XTC) today announced a quarterly cash dividend of $0.085 per common share to be paid on March 29, 2018 to shareholders of record on March 15, 2018. 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, CEO 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 36% of Exco’s trailing twelve month adjusted net income. This is the ninth time Exco has raised its dividend in eight consecutive years during which time the dividend increased well over 300%.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 17 strategic locations in 8 countries, we employ 6,671 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|