Toronto, Ontario – October 29, 2007: Aecon Group Inc. (TSX: ARE) today announced that its board of directors has approved a policy to commence semi-annual dividend payments in the amount of $0.07 per share ($0.14 annually) to holders of Aecon Common Shares. The first dividend payment will be paid on January 2, 2008 to shareholders of record on November 30, 2007.
“The earnings and operating cash flow performance demonstrated in recent quarters is indicative of the strong position Aecon has achieved in segments of the Canadian construction industry experiencing substantial and durable growth,” noted John M. Beck, Chairman and CEO, Aecon Group Inc. “On the basis of this strength, the board has determined that Aecon is now in a position, not only to continue to invest in significant growth, but also to adopt a modest semi-annual dividend that will provide an additional return to our shareholders.”
Aecon Group Inc. is Canada’s largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally.