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Press release from CNW Group

ShawCor Declares Quarterly Dividend

Thursday, August 05, 2010

ShawCor Declares Quarterly Dividend17:02 EDT Thursday, August 05, 2010(TSX: SCL.A, SCL.B)TORONTO, Aug. 5 /CNW/ - The Board of Directors today declared a dividend of seven and fifty one hundredths cents (7.50 cents) per Class A Subordinate Voting Share and six and eight hundred and eighteen one thousandths cents 6.818 cents) per Class B Multiple Voting Share payable on the 31st day of August, 2010, to shareholders of record at the close of business on the 19th day of August, 2010.For Canadian resident shareholders, these dividends are designated as "eligible dividends" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.ShawCor will be hosting a Shareholder and Analyst Conference Call and Webcast on Friday, August 6th at 10:00 AM EDT, which will discuss the company's Second Quarter 2010 Financial Results.Please visit our website at www.shawcor.com for further details.For further information: Gary S. Love, Vice President, Finance and CFO, Telephone: 416.744.5818, e-mail: glove@shawcor.com, website: www.shawcor.com