Logistec Corporation
TSX : LGT.A
TSX : LGT.B

Logistec Corporation

March 09, 2007 13:27 ET

Logistec Declares Quarterly Dividend and a Special Cash Dividend on Shares

MONTREAL, QUEBEC--(CCNMatthews - March 9, 2007) - The Board of Directors of Logistec Corporation (TSX:LGT.A) (TSX:LGT.B) today announced that it has declared quarterly dividends of $0.07 per share on all outstanding Class A common shares and $0.077 per share on all outstanding Class B subordinate voting shares.

The dividends will be paid on April 13, 2007 to all Logistec Corporation shareholders of record at the close of business on March 30, 2007. This dividend is an eligible dividend for Canada Revenue Agency purposes.

The Board of Directors of Logistec Corporation today also announced that it has declared a special cash dividend of $1.50 per share on all outstanding Class A Common shares and $1.65 per share on all outstanding Class B subordinate voting shares.

The dividends will be paid on April 13, 2007 to all Logistec Corporation shareholders of record at the close of business on March 30, 2007. This dividend is an eligible dividend for Canada Revenue Agency purposes.

This special dividend reflects Logistec's strong operating results and cash position while still allowing for the financial flexibility to continue to invest in both the existing operations and new opportunities.

Logistec has been consistently profitable and has regularly paid dividends since the company went public in 1969. Dividends paid during 2006 totalled $0.2575 on Class A shares and $0.28325 on Class B shares.

About Logistec

Logistec Corporation, based in Montreal, provides specialized services to the marine community and industrial companies in the areas of: container, break-bulk and bulk cargo handling at 22 ports in Eastern Canada, the Great Lakes and the US East Coast; agency services to foreign shipowners and operators serving the Canadian market; marine transportation services geared primarily to the Arctic coastal trade; and management of toxic waste, site remediation, risk assessment, and rehabilitation of underground pipes and aqueducts. The company has more than doubled its annual revenue since 1995 through internal growth and strategic acquisitions.

Logistec's shares are listed on the Toronto Stock Exchange under the symbols LGT.A and LGT.B. More information can be obtained from the company's website at www.logistec.com.

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