GUELPH, ONTARIO--(Marketwire - June 6, 2012) - The Board of Directors of Hammond Power Solutions Inc. ("HPS") (TSX:HPS.A) today declared a semi-annual cash dividend of nine cents ($0.09) per Class A Subordinate Voting Share of HPS and a semi-annual cash dividend of nine cents ($0.09) per Class B Common Share of HPS payable on June 29, 2012 to shareholders of record at the close of business on the 15th day of June 2012. The ex-dividend date is June 13, 2012.
Important Income-Tax Information for Canadian Resident Shareholders
HPS designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.
Caution Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws. The forward-looking information contained in this press release is subject to known and unknown risks, uncertainties and other factors that are not within the control of HPS. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause HPS's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
A discussion of factors that may affect HPS' actual results, performance, achievements or financial position is contained in the filings by HPS with the Canadian securities regulatory authorities, including HPS' Annual Information Form. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. HPS disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
About Hammond Power Solutions Inc.
Hammond Power Solutions Inc. is a leading manufacturer of dry type, cast coil and oil filled transformers and related magnetics. Advanced engineering capabilities, high quality products and fast responsive service to customers' needs have established HPS as a technical and innovative leader in the electrical and electronic industries. HPS has manufacturing plants in Canada, the United States, Mexico, Italy and India.