IPSCO Announces 12% Increase in Cash Dividend
Lisle, Illinois, February 24, 2006 - IPSCO Inc.’s (NYSE/TSX:IPS)
Board of Directors today approved a 12% increase in the quarterly
cash dividend on the Company’s common shares from CDN $0.16 to
$0.18 per share. The dividend will be payable on March 31, 2006 to
shareholders of record at the close of business on March 10, 2006.
This increase in dividend reflects the confidence IPSCO's Board of
Directors and management have in the Company’s long-term
business and financial outlook.
IPSCO, traded as "IPS" on both the New York Stock
Exchange and Toronto Stock Exchange, operates steel mills at three
locations and pipe mills at six locations in the United States and
Canada. As a low cost North American steel producer, IPSCO has a
combined annual steel making capacity of 3,500,000 tons. The
Company's tubular facilities produce a wide range of tubular
products including line pipe, oil and gas well casing and tubing,
standard pipe and hollow structurals. Steel can also be further
processed at IPSCO's five temper leveling and coil processing
facilities.
This news release contains forward-looking information with
respect to IPSCO's operations and beliefs. Actual results may
differ from these forward-looking statements due to numerous
factors, including, but not limited to: weather conditions
affecting the oil patch; drilling rig availability; demand for oil
and gas; supply, demand and price for scrap metal and other raw
materials; supply, demand and price for electricity and natural
gas; demand and prices for products produced by the Company;
general economic conditions; and changes in financial markets.
These and other factors are outlined in IPSCO's regulatory filings
with the Securities and Exchange Commission and Canadian
securities regulators, including those in IPSCO's Annual Report
for 2004, its MD&A, particularly as discussed under the
heading "Business Risks and Uncertainties", its Annual
Information Form, and its Form 40-F.
Investor
Contact:
Tom Filstrup
Director, Investor Relations
Tel. 630-810-4772
tfilstrup@ipsco.com |
Media Contact:
John Comrie, QC
Director, Trade Policy and Communications
Tel. 630-810-4730
jcomrie@ipsco.com |
Release 06-05 |
