VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2013) - ComWest Enterprise Corp. (TSX VENTURE:CWP)(TSX VENTURE:CWP.A) (the "Company") is pleased to announce that the board of directors of the Company has declared a cash dividend of $0.05 per share, payable to shareholders of record on March 7, 2013. The dividend will be paid on or about March 14, 2013. Both holders of Class A Restricted Equity Shares and Class B Common Shares will be entitled to the dividend. All dividends declared by the Company are designated as eligible dividends.
As the Company has now repaid the initial borrowings for the acquisition of a 90% limited partnership interest in Peerless Garments LP ("Peerless"), the directors have authorized this increase in the quarterly dividend from $0.02 to $0.05 per share. The Company currently has $1 million in term loans outstanding, the funds from which were used to acquire real estate related to the Peerless manufacturing facility. It is expected that this loan will be retired over the ensuing fiscal year.
ON BEHALF OF THE BOARD
Douglas F. Good, President
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