Dover Industries Limited
TSX : DVI

Dover Industries Limited

March 14, 2008 16:25 ET

Dover Industries Limited (DVI) Financial Results-Fourth Quarter and 12 Month Period Ended

BURLINGTON, ONTARIO--(Marketwire - March 14, 2008) - Dover Industries Limited (TSX:DVI) announced that income after tax from the continuing operations for the twelve months ended December 31, 2007 was $5,247,000 ($0.76 per basic share), compared to $7,168,000 ($1.04 per basic share) in 2006.

Net and comprehensive income for the twelve months ended December 31, 2007 was $10,164,000 ($6,906,000 in 2006). After provisions for income taxes net income per basic share is $1.48 compared to $1.00 for 2006.

Net income from the continuing operations for the fourth quarter ended December 31, 2007 was $2,301,000 ($2,415,000 for the same period in 2006). After provision for income taxes, net income per basic share was $0.33 compared with $0.35 in 2006.

Net and comprehensive income for the fourth quarter ended December 31, 2007 was $2,274,000 ($2,350,000 for the same period in 2006). After provisions for income taxes net income per basic share is $0.33 compared to $0.34 for the fourth quarter of 2006.

A dividend of ten (10) cents per share on the common shares of the Company was declared for the quarter ended March 31, 2008. The dividend is payable on June 2, 2008, to shareholders registered at the close of business on May 12, 2008. This is the 68th consecutive year in which the Company has paid dividends on the common shares.

Dover Industries Limited operates flour mills in Ontario, Nova Scotia and Saskatchewan, a paper products division and ice cream cone and plastics plant in Ontario with sales across Canada and the USA.

Historical Dover Industries Limited news releases can be viewed on the Company's website (www.dovergrp.com) and/or on the System for Electronic Document Analysis and Retrieval website (www.sedar.com).

Contact Information

  • Dover Industries Limited
    Brian J. Short
    Senior Vice - President & C.F.O.
    (905) 333-1515
    Website: www.dovergrp.com