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Published in House and Home on Thursday, October 27th 2011 at 6:38 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
October 27, 2011 09:25 ET
Hammond Power Solutions Inc.: Regular Annual Dividend Declared
GUELPH, ONTARIO--(Marketwire - Oct. 27, 2011) - Hammond Power Solutions Inc. ("HPS") (TSX:HPS.A) today announced that the Board of Directors of HPS has declared a regular annual cash dividend of $0.15 per Class A Subordinate Voting Share and $0.15 per Class B Common Share payable on December 9, 2011, to shareholders of record at the close of business on November 18, 2011. The ex-dividend date is November 16, 2011.
Important Income-Tax Information for Canadian Resident Shareholders
HPS designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.
About Hammond Power Solutions Inc.
HPS is a North American leader for the design and manufacture of dry-type custom electrical engineered magnetics and is also a leading manufacturer of standard electrical dry-type and cast coil transformers. Leading edge engineering capabilities, high quality products, and fast, responsive service to customers' needs have all served to establish HPS as a technical and innovative leader in the electrical and electronic industries. HPS has three manufacturing plants in Canada, two in Mexico, one in Italy and one in the United States.
Caution Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws. The forward-looking information contained in this press release is subject to known and unknown risks, uncertainties and other factors that are not within the control of HPS. Generally, this forward-looking information can be identified by the use of forward- looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause HPS's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information and developed based on assumptions about such risks, uncertainties and other factors set out herein.
A discussion of factors that may affect HPS's actual results, performance, achievements or financial position is contained in the filings by HPS with the Canadian provincial securities regulatory authorities, including HPS's Annual Information Form. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. HPS disclaims any intent or obligations to update or revise publicly any forward- looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.