TORONTO, ONTARIO -- (Marketwire) -- 02/24/12 -- Toromont Industries Ltd. (TSX: TIH) today announced that its Board of Directors has approved a 9% increase in Toromont's regular quarterly cash dividend, marking twenty-three consecutive years of increasing dividends.

A quarterly dividend at the new rate of 12 cents (Cdn) per share, payable April 2, 2012 to shareholders of record at the close of business on March 9, 2012, was declared today by the Company's Board of Directors.

Toromont Chairman and Chief Executive Officer, Robert M. Ogilvie said: "This continues forty-three consecutive years of dividend payments. We have a strong balance sheet, we have confidence in our business and we are optimistic about our growth prospects."

About Toromont

Toromont Industries Ltd. operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations. CIMCO is a market leader in the design, engineering, fabrication and installation of industrial and recreational refrigeration systems. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont can be found on the web at www.toromont.com.