Mullen Group Ltd. Announces 2014 Business Plan and Declaration of Dividend

Mullen Group Ltd. Announces 2014 Business Plan and Declaration of Dividend 
OKOTOKS, AB, Jan. 20, 2014 /CNW/ - (TSX:MTL)  Mullen Group Ltd. ("Mullen 
Group" and/or the "Corporation") announced today its capital expenditure plan 
for 2014 as approved by the Board of Directors (the "Board").  The Board 
considered a wide range of economic issues, commodity pricing predictions and 
forecasted drilling activity for the Western Canadian Sedimentary Basin as 
well as recent developments in the anticipated build out of Canada's 
infrastructure for LNG and crude oil.  The capital budget for 2014 is set at 
$100.0 million, with $75.0 million allocated to the Oilfield Services segment 
and $25.0 million allocated to the Trucking/Logistics segment.  These funds 
will be used to acquire new trucks, trailers and specialized equipment to 
support the on-going operations of Mullen Group's business units.  As the need 
arises, the Board will consider additional capital requests throughout the 
year for special projects, the purchase and development of land, or for 
acquisitions. 
"We expect 2014 to be another good year for the Mullen Group, although growth 
will continue to be difficult to achieve given the current economic outlook as 
well as the near term prospects for the oil and gas sector in western Canada.  
However, looking to the future, growth opportunities are much brighter, which 
is the reasoning behind the Board approving our request for a $100.0 million 
capital budget in 2014.  Quite simply, we want to be prepared", said Murray 
Mullen, Chairman and Chief Executive Officer. 
"The discussions surrounding LNG exports through Canada's west coast, as well 
as crude oil pipelines and infrastructure projects are progressing and appear 
to be constructive, although there have been few definitive announcements to 
date.  One exception is crude by rail, with strong indications that take-away 
capacity for crude oil from western Canada could rise to one million barrels 
per day by year-end.  Our view is that our customers will benefit from this 
new capacity.  In addition, it is worth noting that while two percent annual 
GDP economic growth is not in itself significant, we believe that there is a 
compounding affect to this growth that should ultimately benefit our 
Trucking/Logistics segment.  There is also another important reason to 
continue investing in our 26 business units.  Providing our employees with the 
newest equipment ensures that they have access to best-in-class assets and a 
quality work environment -- prerequisites to retaining, as well as attracting, 
a productive work force in this market.  Our investment of $100.0 million in 
2014 will ensure that our business units are well positioned for the future, 
particularly those tied to the build out of crude oil take-away capacity and 
the development of LNG", added Mr. Mullen. 
Mullen Group also announced today its intention to continue its practice of 
paying annual dividends of $1.20 per Common Share over the course of 2014, 
such dividends to be paid on a monthly basis, subject to Board approval. 
Mr. Mullen commented, "Rewarding our shareholders with consistent, predictable 
dividends, as well as investing for future growth, are important elements of 
Mullen Group's long term Strategic Plan.  For 2014 the Board considered 
various alternatives for the anticipated free cash flow and determined that 
investing the incremental free cash into our 26 business units was the best 
use of shareholders' capital at this time." 
The Board announced today that it has declared a monthly dividend of $0.10 per 
Common Share payable to the holders of record of Common Shares at the close of 
business on January 31, 2014.  The dividend will be paid on February 17, 2014. 
 For Canadian resident shareholders, this dividend is designated as an 
"eligible dividend" for purposes of the enhanced dividend tax credit rules 
contained in the Income Tax Act (Canada) and any corresponding provincial and 
territorial tax legislation. 
This news release may contain forward-looking statements that are subject to 
risk factors associated with the oil and natural gas business and the overall 
economy.  Mullen Group believes that the expectations reflected in this news 
release are reasonable, but results may be affected by a variety of variables. 
 Mullen Group relies on litigation protection for "forward-looking" 
statements.  Mullen Group is a company that owns a network of independently 
operated businesses. 
Today the Mullen Group is recognized as the largest provider of specialized 
transportation and related services to the oil and natural gas industry in 
western Canada and as one of the leading suppliers of trucking and logistics 
services in Canada - two sectors of the economy in which Mullen Group has 
strong business relationships and industry leadership.  Mullen Group provides 
management and financial expertise, technology and systems support to its 
independent businesses.  Mullen Group is a publicly traded corporation listed 
on the Toronto Stock Exchange under the symbol "MTL". 
Additional information is available on our website at www.mullen-group.com or 
on SEDAR at www.sedar.com.
 

SOURCE  Mullen Group Ltd. 
 Mr. Murray K. Mullen - Chairman of the Board and Chief Executive Officer Mr. 
Stephen H. Lockwood - Co-Chief Executive Officer and President Mr. P. Stephen 
Clark - Chief Financial Officer 
121A - 31 Southridge Drive Okotoks, Alberta, Canada T1S 2N3 Telephone: 
403-995-5200 Fax: 403-995-5296 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2014/20/c9864.html 
CO: Mullen Group Ltd.
ST: Alberta
NI: TRN DIV  
-0- Jan/20/2014 21:50 GMT
 
 
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