Did anyone notice this move today by Mart Resources? Its stock shot up around 27 per cent on the news...
Mart Announces $0.10 Per Common Share Dividend
Mart Announces $0.10 Per Common Share Dividend
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CALGARY, ALBERTA -- (Marketwire) -- 06/28/12 -- Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") is pleased to announce the declaration of a dividend of $0.10 per common share payable on August 8, 2012 to shareholders of record at the close of business on July 23, 2012.
Mart's Board of Directors has also adopted a dividend policy reflecting its intention to pay quarterly dividends of $0.05 per common share commencing in September 2012. The payments of dividends in the future are dependent on Mart's cash flows, capital expenditure budgets, earnings, financial condition and other factors as the Board of Directors may consider appropriate from time to time.
Wade Cherwayko, CEO of Mart commented: "The declaration by Mart of its first dividend to shareholders is a very important milestone for the Company and reflects our positive view of the sustainability of cash flow from Mart's Nigerian operations."
For more information, please contact Wade Cherwayko at Mart's London, England office # +44 207 351 7937 or e-mail: Wade@martresources.com; or Investor Relations at toll free 1-888-875-7485. Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.