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.
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
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.
Investor Relations Contact: Jas Boparai, Chief Financial Officer GLENTEL
Media Contact: Lois Grierson GLENTEL Inc. firstname.lastname@example.org
SOURCE: Glentel Inc.
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CO: Glentel Inc.
ST: British Columbia
NI: TLS DIV
-0- Jan/02/2013 12:52 GMT
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