Macro Enterprises Inc.

Macro Enterprises Inc.

March 24, 2010 18:24 ET

Macro Enterprises Inc. Announces Decision to Suspend Payment of Preferred Share Dividends

FORT ST. JOHN, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Macro Enterprises Inc. (the "Company") (TSX VENTURE:MCR) announced today that its Board of Directors (the "Board") has decided it is in the best interests of the Company to temporarily suspend payment of quarterly dividends on the Class A Convertible Preference Shares of the Company. There is a dividend of $105,625 payable on March 31, 2010.

The Company has experienced reduced volumes of work in the past nine months and the Board considered it prudent to take this action to minimize cash outflows from the Company. The Board will re-examine this decision each quarter. Under the provisions of the Class A Convertible Preference Shares, unpaid dividends are cumulative.

Macro's core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern B.C. and northwestern Alberta. The Company's corporate office is in Calgary, Alberta. Its shares are listed on the TSX Venture Exchange under the symbol MCR. Information on the Company's principal operating unit, Macro Industries Inc., can be found at

Contact Information

  • Macro Enterprises Inc.
    Frank Miles
    President and C.E.O.
    (250) 785-0033
    Macro Enterprises Inc.
    T. Jerrold Jackson
    (403) 705-7302