Dover Industries Limited
TSX : DVI

Dover Industries Limited

August 09, 2007 16:06 ET

Dover Industries Limited (DVI) Financial Results-Six Month Period Ended June 30, 2007 & Dividend Increase

BURLINGTON, ONTARIO--(Marketwire - Aug. 9, 2007) - Dover Industries Limited (TSX:DVI) announced net income from the continuing operations for the second quarter ended June 30, 2007 was $1,403,000 ($1,668,000 for the same period in 2006). Net income per basic share was $0.20 compared with $0.24 in 2006. Sales for the quarter from the continuing operations were $55,362,000 compared to $41,895,000 in 2006.

Net income for the continuing and discontinued operations for the second quarter ended June 30, 2007 was $1,366,000 ($1,642,000 for the same period in 2006). Net income per basic share is $0.20 compared to $0.24 for the second quarter of 2006.

Net income from the continuing operations for the six months ended June 30, 2007 was $2,966,000 ($0.43 per basic share), compared to $3,186,000 ($0.46 per basic share) last year.

Net income for the continuing and discontinued operations for the six months ended June 30, 2007 was $2,889,000 ($3,050,000 for the same period in 2006). Net income per basic share is $0.42 compared to $0.44 for the first six months of 2006.

A dividend of ten (10) cents per share on the common shares of the Company was declared for the quarter ended June 30, 2007. The dividend declared has been increased by eleven percent from the dividend declared and paid in the same period in 2006. The dividend is payable on September 4, 2007, to shareholders registered at the close of business on August 20, 2007. This is the 67th 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