Stock Name: KBL
Amount: CAD 0.0958
Announcement Date: 07/05/2012
Record Date: 29/05/2012
Dividend Detail:
(TSX: KBL)
EDMONTON, May 7, 2012 /CNW/ - K-Bro Linen Inc. (the "Corporation")
announced today that its Board of Directors has declared a monthly
dividend of $0.0958 per common share for the period from May 1 to 31,
2012, to be paid on June 15, 2012 to shareholders of record on May 31,
2012.�� This represents an increase of 4.5% from its previous monthly
dividend of $0.09167 per common share.�� It is the Board of Director's
present intention to fix future monthly dividend payments at $0.0958
per common share per month, or equivalently $1.15 per common share per
annum (up from the current annual dividend of $1.10).
"In negotiating a new long-term contract with Alberta Health Services,
the Corporation has addressed uncertainty regarding this significant
contract.�� Furthermore, K-Bro will continue to generate strong cash
flow, despite commencing a strategic relocation and capital expansion
of our Edmonton production facilities," said Christopher Burrows,
Vice-President and Chief Financial Officer.�� "As such, we are pleased
to announce an increase in our monthly dividend. Our business plan
continues to deliver improved financial results and provides confidence
in our ability to increase dividends to shareholders while also
increasing capital investment in our business."
The Corporation's policy is for shareholders of record on the last
business day of a calendar month to receive dividends during the
fifteen days following the end of such month.�� K-Bro designates this
dividend as an eligible dividend pursuant to subsection 89(14) of the
Income Tax Act (Canada) and similar provincial and territorial
legislation.
CORPORATE PROFILE
K-Bro is the largest owner and operator of laundry and linen processing
facilities in Canada. K-Bro provides a comprehensive range of general
linen and operating room linen processing, management and distribution
services to healthcare institutions, hotels and other commercial
accounts.�� K-Bro currently operates eight processing facilities under
three distinctive brands, including K-Bro Linen Systems Inc., Buanderie
HMR and Les Buanderies Dextraze, in seven Canadian cities: Qu��bec City,
Montr��al, Toronto, Edmonton, Calgary, Vancouver and Victoria.
Additional information regarding the Corporation including required
securities filings are available on our website at www.k-brolinen.com and on the Canadian Securities Administrators' website at www.sedar.com; the System for Electronic Document Analysis and Retrieval ("SEDAR").
K-Bro est le plus important propri��taire et exploitant��de buanderies au
Canada. K-Bro fournit une gamme ��tendue de services de buanderie��aux
��tablissements��de soins de sant��,��h��tels et autres clients commerciaux.
K-Bro exploite actuellement huit usines sous trois marques
distinctives, incluant K-Bro Linen Systems Inc., Buanderie HMR��et Les
Buanderies Dextraze,��dans sept villes canadiennes: Qu��bec, Montr��al,
Toronto, Edmonton, Calgary, Vancouver et Victoria.
Vous pouvez obtenir des renseignements suppl��mentaires sur la Soci��t��, y
compris les documents d��pos��s aupr��s des autorit��s de r��glementation,
sur notre site Web, au www.k-brolinen.com et sur le site Web des autorit��s canadiennes en valeurs mobili��res au www.sedar.com, le site Web du Syst��me ��lectronique de donn��es, d'analyse et de
recherche (����SEDAR����).
NOTICE TO READER
This news release contains forward-looking information that represents
internal expectations, estimates or beliefs concerning, among other
things, future activities or future operating results and various
components thereof. The use of any of the words "anticipate",
"continue", "expect", "may", "will", "project", "should", "believe",
and similar expressions suggesting future outcomes or events are
intended to identify forward-looking information.�� Statements regarding
such forward-looking information reflect management's current beliefs
and are based on information currently available to management.
These statements are not guarantees of future performance and are based
on management's estimates and assumptions that are subject to risks and
uncertainties, which could cause K-Bro's actual performance and
financial results in future periods to differ materially from the
forward-looking information contained in this news release.�� These
risks and uncertainties include, among other things: (i) risks
associated with acquisitions, including the possibility of undisclosed
material liabilities; (ii) K-Bro's competitive environment; (iii)
utility and labour costs; (iv) K-Bro's dependence on long-term
contracts with the associated renewal risk; (v) increased capital
expenditure requirements; (vi) reliance on key personnel; (vii)
changing trends in government outsourcing; and (viii) the availability
of future financing. Material factors or assumptions that were applied
in drawing a conclusion or making an estimate set out in the
forward-looking information include: (i) volumes and pricing
assumptions; (ii) utility costs; (iii) expected impact of labour cost
initiatives; and (iv) the level of capital expenditures. Although the
forward-looking information contained in this news release is based
upon what management believes are reasonable assumptions, there can be
no assurance that actual results will be consistent with these
forward-looking statements.�� Certain statements regarding
forward-looking information included in this news release may be
considered "financial outlook" for purposes of applicable securities
laws, and such financial outlook may not be appropriate for purposes
other than this news release.
All forward-looking information in this news release is qualified by
these cautionary statements.�� Forward-looking information in this news
release is presented only as of the date made. Except as required by
law, the Corporation disclaims any intention or obligation to update or
revise any forward-looking statements to reflect subsequent events or
circumstances.
For further information:
Chris Burrows
Vice-President & Chief Financial Officer
K-Bro Linen Inc.�� (TSX: KBL)
Phone:��780.453.5218��
Email:��inquiries@k-brolinen.com
Web:��www.k-brolinen.com
No comments:
Post a Comment