GLENTEL Inc. increases its quarterly dividend BURNABY, BC, Jan. 2, 2013 /CNW/ - January 2, 2013 - GLENTEL Inc.'s (GLN.TO) Board of Directors is pleased to announce the declaration of a quarterly dividend in the amount of $0.125 per share, for shareholders of record on Thursday, January 10, 2013 , payable on Thursday, January 24, 2013 .
"We are especially pleased to announce a dividend increase of 2.5 cents per share compared to quarterly dividends paid in 2012," stated Thomas Skidmore , GLENTEL's President and Chief Executive Officer. "The declared dividend will increase the previous quarterly dividend of $0.10 per share to $0.125 per share. The dividend increase recognizes GLENTEL's consistent growth in sales and profitability, as well as anticipated net earnings contributions in 2013 from our recent acquisitions in the United States and Australia . The Board intends to share the success of the company primarily through the declaration of quarterly dividends. In 2013 and beyond, special dividends will not be declared annually, but rather may be declared on an extraordinary basis, from time to time."