Destiny Resource Services Corp.

Destiny Resource Services Corp.

November 09, 2006 14:15 ET

Destiny Resource Services Corp. Announces $0.24 Per Share Dividend Declaration

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2006) - Destiny Resource Services Corp. (TSX:DSC) announced that the Board of Directors declared a dividend of $0.24 per share on each of the 5,575,081 shares outstanding. The dividend will be paid December 15, 2006 to shareholders of record December 10, 2006.

This dividend, consistent with the increase to $0.24 in Q1'06, is the eighth consecutive quarterly dividend since the adoption of a dividend policy in late 2004. It is the intent of Destiny to pay a dividend each quarter. The Board of Directors will determine the dividend, if any, each quarter in light of operating and financial factors, results to date and the outlook for the balance of the year and beyond. Destiny's outlook for the balance of 2006 and for 2007 is positive. Destiny is subject to the risks and uncertainties attendant with its businesses, including commodity prices and weather. As such, no assurance can be given of the Company's ability to sustain the dividend at this or any level.

Destiny provides Seismic Front-End Services comprised of seismic survey and mapping (Wolf Survey & Mapping), seismic line clearing (Destiny Resources) and shot-hole drilling (Double R Drilling) to energy explorers and producers and to seismic acquisition companies. Destiny also provides navigation, positioning and asset management technology to improve the productivity and safety of seismic operations through its Kodiak Nav Solutions division and locating services to a variety of industries through its Advanced Locating Service division.

Contact Information

  • Destiny Resource Services Corp.
    Bruce R. Libin, Q.C.
    Executive Chairman and Chief Executive Officer
    (403) 237-6437
    (403) 233-8714 (FAX)