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Clearwater Seafoods Incorporated announces initiation of annual dividend of $0.10 per share

Clearwater Seafoods Incorporated announces initiation of annual dividend of 
$0.10 per share 
/NOT FOR DISTRIBUTION TO UNITED STATES OR FOR DISSEMINATION IN THE UNITED 
STATES/ 
HALIFAX, Nov. 1, 2013 /CNW/ - (TSX: CLR): 


    --  Initiates annual dividend of $0.10 per share, payable in
        quarterly installments of $0.025 per share with the first
        payment to be made on December 13, 2013 to shareholders of
        record as of November 29, 2013.
    --  Communicates factors considered in determining dividend

Today, Clearwater Seafoods Incorporated ("Clearwater") announced the 
initiation of an annual dividend of $0.10 per share, payable in quarterly 
installments of $0.025 per share with the first quarterly payment to be made 
on December 13, 2013 to shareholders of record as of November 29, 2013.

Colin MacDonald, Chairman of the Board of Directors of Clearwater, stated, 
"Our shareholders have been rewarded for investing in Clearwater over the past 
few years through significant appreciation in the value of their shares and 
the Board of Directors is delighted to supplement that substantial return and 
express our confidence in Clearwater's future by announcing a quarterly cash 
dividend."

Mr. MacDonald continued, "Central to the Board of Directors' decision to 
announce a dividend was our confidence in the future and our belief that it 
could be set at a level that is not only sustainable but that provides some 
opportunity for growth."

Mr. MacDonald concluded "In making the determination of dividend levels, the 
Board gave consideration to a number of key principles including the expected 
future earnings and the amount of free cash flows that should be retained to 
reinvest in the business, the assurance that all obligations can be met with 
respect to existing loan agreements and the desire to provide room for the 
dividend to increase in the future as the business continues to grow and 
expand. The Board will review these same factors on a periodic basis, and at 
least annually, when reviewing opportunites to adjust or increase the 
dividend."

Outlook

Global demand for seafood is outstripping supply, creating favorable market 
dynamics for vertically integrated producers such as Clearwater that have 
strong resource access.

Demand has been driven by growing worldwide population, shifting consumer 
tastes towards healthier diets, and rising purchasing power of middle class 
consumers in emerging economies.

The supply of wild seafood is limited and is expected to continue to lag 
behind the growing global demand. This supply-demand imbalance has created a 
market place in which purchasers of seafood are increasingly willing to pay a 
premium to suppliers that can provide consistent quality and food safety, wide 
diversity and reliable delivery of premium, wild, sustainably harvested 
seafood.

Clearwater, like other vertically integrated seafood companies, is well 
positioned to take advantage of this opportunity because of its licenses, 
premium product quality, diversity of species, global sales footprint, and 
year-round harvest and delivery capability.

Ian Smith, Chief Executive Officer, commented, "Strong market demand has 
contributed to improvements in revenue and free cash flow, and as we continue 
to invest in our business and increase our access to supply, we expect to be 
able to continue to grow the business in 2014."

COMMENTARY REGARDING FORWARD-LOOKING STATEMENTS

This news release may contain "forward-looking information" as defined in 
applicable Canadian securities legislation. All statements other than, 
statements of historical fact, included in this release, including, without 
limitation, statements regarding future plans and objectives of Clearwater, 
constitute forward-looking information that involve various, known and unknown 
risks, uncertainties, and other factors outside management's 
control.Forward-looking information is based on a number of factors and 
assumptions which have been used to develop such information but which may 
prove to be incorrect including, but not limited to, total allowable catch 
levels, selling prices, weather, exchange rates, fuel and other input costs. 
There can be no assurance that such information will prove to be accurate and 
actual results and future events could differ materially from those 
anticipated in such forward-looking information.

For additional information with respect to risk factors applicable to 
Clearwater, reference should be made to Clearwater's continuous disclosure 
materials filed from time to time with securities regulators, including, but 
not limited to, Clearwater's Annual Information Form. The forward-looking 
information contained in this release is made as of the date of this release 
and Clearwater does not undertake to update publicly or revise the 
forward-looking information contained in this release, whether as a result of 
new information, future events or otherwise, except as required by applicable 
securities laws.

No regulatory authority has approved or disapproved the adequacy or accuracy 
of this news release.

ABOUT CLEARWATER

Clearwater is one of North America's largest vertically integrated seafood 
companies and the largest holder of shellfish licenses and quotas in Canada. 
It is recognized globally for its superior quality, food safety, diversity of 
species and reliable worldwide delivery of premium wild, eco-certified 
seafood, including scallops, lobster, clams, coldwater shrimp, crab and 
groundfish.

Since its founding in 1976, Clearwater has invested in science, people and 
technological innovation as well as resource ownership and management to 
sustain and grow its seafood resource. This commitment has allowed it to 
remain a leader in the global seafood market and in sustainable seafood 
excellence.



SOURCE  Clearwater Seafoods Incorporated 
Robert Wight, Chief Financial Officer, Clearwater, (902) 457-2369;  Tyrone 
Cotie, Treasurer, Clearwater, (902) 457-8181. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2013/01/c8922.html 
CO: Clearwater Seafoods Incorporated
ST: Nova Scotia
NI: FBR FOD FIN DIV FIN  
-0- Nov/01/2013 12:40 GMT