May 21, 2014 17:00 ET
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - The Board of Directors of Computer Modelling Group Ltd. ("CMG" or the "Company") (TSX:CMG) announces a 5.3% increase in its quarterly dividend to $0.20 per share on CMG's Common Shares. The dividend will be paid on June 13, 2014 to shareholders of record at the close of business on June 6, 2014.
The increase reflects CMG's focus on sustainable dividends paid quarterly, in recognition of the importance of a regular income stream to its shareholders. Ken Dedeluk, President and CEO, commented "the growth in the level of dividends paid is reflective of our continued success, and our commitment to share this success directly with our shareholders."
Computer Modelling Group Ltd. is a computer software technology and consulting company serving the oil and gas industry. CMG, recognized by oil and gas companies worldwide as a leading developer of reservoir modelling software, has sales and technical support services based in Calgary, Houston, London, Caracas, Dubai, Bogota, and Kuala Lumpur. CMG is the leading supplier of advanced processes reservoir modelling software in the world with a blue chip client base of international oil companies and technology centers in over 50 countries. The Company's shares are listed on the Toronto Stock Exchange under the trading symbol "CMG".
All dividends paid by Computer Modelling Group Ltd. to holders of Common Shares in the capital of Computer Modelling Group Ltd. will be treated as eligible dividends within the meaning of such term in section 89(1) of the Income Tax Act (Canada), unless otherwise indicated.
Computer Modelling Group Ltd.Kenneth M. DedelukPresident & CEO(403) firstname.lastname@example.orgComputer Modelling Group Ltd.Sandra BalicVice President, Finance & CFO(403) email@example.com
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