MFC Industrial Increases 2012 Dividend by 10% to $0.22
MFC Industrial Ltd. (NYSE: MIL) announces that its Board of Directors has declared an annual cash dividend for 2012 of US$0.22 per common share. The dividend is 10% higher than the dividend paid in 2011, and, based on the closing price of $7.01 for the Company's common shares on December 31, 2011, represents a dividend yield of approximately 3.13%, compared to an annual dividend yield of approximately 2.51% for the NYSE Composite Index in 2011.
The 2012 cash dividend will be paid in quarterly installments by the Company. The first payment of $0.05 per common share will be paid on February 10, 2012 to shareholders of record on January 27, 2012. For such payment, the Company's common shares will trade ex-dividend on January 25, 2012. The remaining quarterly dividend payments in 2012 are expected to be made as follows: March - $0.05; June - $0.06; and September - $0.06.
