MFC Industrial lifts 2013 dividend by 9 percent

Published: 07:08:51 PM, Mon 14 January 2013 UTC

NEW YORK (AP) — MFC Industrial is increasing its 2013 dividend by 9 percent to 24 cents per share.

Chairman and CEO Michael Smith said in a statement on Monday that this is the second straight increase in the company's annual dividend since it adopted its dividend policy in 2011.

The 2013 dividend will be paid at 6 cents per share each quarter. The first quarterly payment will be made on Feb. 8 to shareholders of record on Jan. 25.

U.S. shares of MFC Industrial Ltd. fell 12 cents to $9.97 in afternoon trading after rising earlier as high as $10.24, its highest level since October 2008.

MFC Industrial, based in Vancouver, British Columbia, finds and delivers raw materials to clients around the world.

Tags: ap, jan., mfc industrial ltd., vancouver, cents, feb., shareholder, monday, statement, management occupations, shareholders, record, percent, afternoon trading, chairman, dividend, highest level, stock, business, company, columbia river, u.s. shares, stock market, raw materials, share, new york, british columbia, dividend policy, annual dividend, mfc industrial, ceo michael smith, straight increase, quarterly payment