CECO Environmental Increases Dividend 40 Percent
CINCINNATI, March 9, 2012 /PRNewswire/ -- CECO Environmental Corp. (NasdaqGM: CECE), a leading global provider of air pollution control technology and industrial ventilation systems, today announced that its Board of Directors is raising its quarterly cash dividend by forty percent to $0.035 per share from the previous quarterly dividend of $0.025 per share. The dividend will be paid on March 30, 2012, to all shareholders of record at the close of business on March 20, 2012.
Jeff Lang, CECO's Chief Executive Officer stated, "With our record profits and cash flow achieved in 2011, we are confident in the long term financial strength and growth prospects for CECO. We believe the increased dividend provides value for our current shareholders and is also attractive to new shareholders."
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading global provider of air pollution control technology. Through its subsidiaries – Busch International, CECO Filters, CECO Abatement Systems, Kirk & Blum, Effox-Flextor, Fisher-Klosterman/Buell, CECO China and A.V.C. Specialists – CECO provides a wide spectrum of air quality products and services including engineered equipment, cyclones, scrubbers, dampers, diverters, RTO's, component parts and monitoring and management services. Industries served include refining, petro-chemical, power, aluminum, steel, automotive, chemical and large industrial processes. Revenue from engineered equipment technology is approximately 75% and 25% from parts, services and aftermarket. Global growth, operational excellence, margin expansion, safety leadership and employee development are CECO's core strategies and long term objectives.
For more information on CECO Environmental, please visit the company's website at http://www.cecoenviro.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in CECO's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumption prove incorrect, actual results may vary in material aspects from those currently anticipated.
SOURCE CECO Environmental Corp.
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