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GLENTEL Inc. increases its quarterly dividend
(Canada Newswire Via Acquire Media NewsEdge)
BURNABY, BC, Jan. 2, 2013 /CNW/ - January 2, 2013 - GLENTEL Inc.'s (TSX:
GLN) 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."
Unless otherwise stated, dividends paid by GLENTEL Inc. to Canadian
residents are "eligible dividends" as defined by the Canadian Income
Tax Act and corresponding provincial legislation.
About GLENTEL
GLENTEL (TSX: GLN) is the largest independent multi-carrier mobile phone
retailer in Canada and a leading provider of innovative and reliable
telecommunications services and solutions in North America. Founded in
1963 and headquartered in Burnaby, BC, Canada, GLENTEL comprises four
operating divisions - Retail Canada, Retail U.S., Retail Australia and
Business - that service thousands of consumers and commercial
communications customers. The company operates over 1,180 stores
worldwide, with more than 330 locations in Canada located nationally in
retail malls, Costco Wholesale stores, and business centers; more than
210 Diamond Wireless retail locations in the United States; 428
Wireless Zone retail locations in the United States; and more than 210
retail locations in Australia. In addition, Target Canada has licensed
the operation of over 125 mobile communications sales and service
kiosks within its stores to GLENTEL under the brand Target Mobile®,
commencing in 2013. To its business and government customers, GLENTEL
offers wireless service, rental equipment, satellite and terrestrial
network systems and wireless asset monitoring. GLENTEL offers a choice
of network carrier and wireless device or mobile phone to Canadian and
Australian consumers and offers the family of wireless products and
services of Verizon Wireless in the United States. GLENTEL operates its
business under the trading names GLENTEL Wireless, WIRELESSWAVE, WAVE
SANS FIL, Tbooth Wireless, La Cabine T Sans Fil, WIRELESS etc., SANS
FIL etc., Mac Station, Diamond Wireless and Wireless Zone - Verizon
Wireless National Premium Retailers in the USA, and Allphones in
Australia.
Forward-Looking Statements
Statements in this release relating to matters that are not historical
fact are forward-looking statements based on current expectations,
forecasts and assumptions that involve risks and uncertainties that
could cause actual outcomes and results to differ materially. Factors
that could cause or contribute to such differences include, but are not
limited to, general economic conditions, changes in technology,
reliance on third-party manufacturing, managing rapid growth, limited
intellectual property protection, and other risks and uncertainties
described in GLENTEL's public filings with securities regulatory
authorities.
NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY
HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
For a copy of GLENTEL's annual report or for additional information,
visit www.glentel.com or www.sedar.com.
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