IPSCO Announces Increased Dividend
Lisle, Illinois, May 4, 2006 - IPSCO Inc.’s (NYSE/TSX:IPS) Board
of Directors today approved a 11% increase in the quarterly cash
dividend on the Company’s common shares from CDN $0.18 to $0.20
per share. The dividend will be payable on June 30, 2006 to
shareholders of record at the close of business on June 15, 2006.
This increase in dividend reflects the confidence IPSCO’s Board
of Directors and management have in the Company’s long-term
business and financial outlook.
IPSCO, traded as "IPS" on both the New York Stock
Exchange and Toronto Stock Exchange, operates steel mills at three
locations and pipe mills at six locations in the United States and
Canada. As a low cost North American steel producer, IPSCO has a
combined annual steel making capacity of 3,500,000 tons. The
Company's tubular facilities produce a wide range of tubular
products including line pipe, oil and gas well casing and tubing,
standard pipe and hollow structurals. Steel can also be further
processed at IPSCO's five temper leveling and coil processing
facilities.
This news release contains forward-looking information with
respect to IPSCO's operations and beliefs. Actual results may
differ from these forward-looking statements due to numerous
factors, including, but not limited to: weather conditions
affecting the oil patch; drilling rig availability; demand for oil
and gas; supply, demand and price for scrap metal and other raw
materials; supply, demand and price for electricity and natural
gas; demand and prices for products produced by the Company;
general economic conditions; and changes in financial markets.
These and other factors are outlined in IPSCO's regulatory filings
with the Securities and Exchange Commission and Canadian
securities regulators, including those in IPSCO's 2005 Form 10-K,
and its MD&A, particularly as discussed under the heading
"Business Risks and Uncertainties”.
Company Contact:
Tom Filstrup
Director of Investor Relations
Tel. 630 810-4772
tfilstrup@ipsco.com
Release 06-11
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