November 09, 2005 11:16 ET

Bowater Declares Quarterly Dividend

GREENVILLE, S.C.--(CCNMatthews - Nov 9, 2005) -

The Board of Directors of Bowater Incorporated (NYSE: BOW) today declared a quarterly cash dividend of $0.20 per common share payable on January 3, 2006, to holders of record at the close of business on December 12, 2005. Simultaneously, Bowater's subsidiary, Bowater Canada Inc., declared a quarterly cash dividend to holders of its exchangeable shares (TSX: BWX) in the same amount with the same record and payable dates.

Bowater Incorporated, headquartered in Greenville, SC, is a leading producer of newsprint and coated mechanical papers. In addition, the company makes uncoated mechanical papers, bleached kraft pulp and lumber products. The company has 12 pulp and paper mills in the United States, Canada and South Korea and 12 North American sawmills that produce softwood lumber. Bowater also operates two facilities that convert a mechanical base sheet to coated products. Bowater's operations are supported by approximately 1.4 million acres of timberlands owned or leased in the United States and Canada and 30 million acres of timber cutting rights in Canada. Bowater is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange, the Pacific Exchange and the London Stock Exchange. A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange (TSX: BWX).

All amounts are in U.S. dollars.

Contact Information

  • Bowater Incorporated
    Media Contact:
    Gordon R. Manuel, 864-282-9448
    Analyst Contact
    Duane A. Owens, 864-282-9488