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Press release from CNW Group

WaterFurnace Renewable Energy, Inc. Announces Regular Dividend & Fourth Quarter Webcast

Wednesday, February 09, 2011

WaterFurnace Renewable Energy, Inc. Announces Regular Dividend & Fourth Quarter Webcast17:44 EST Wednesday, February 09, 2011FORT WAYNE, IN, Feb. 9 /CNW/ - WaterFurnace Renewable Energy, Inc. [WFI:TSX] Timothy E. Shields, Chairman of the Board, announced that the board has approved the regular quarterly dividend of $0.22 U.S. per share. The dividend will be paid March 1, 2011 to shareholders of record at the market close of February 21, 2011.The press release covering fourth quarter and year end results will be filed after the close of business on Monday, March 14, 2011. The annual report to shareholders will be available at that time at www.waterfurnace.com and filed on SEDAR at www.sedar.com. Management will conduct a webcast covering the results of the quarter and year at 11:00 AM Eastern Standard Time on Tuesday, March 15, 2011. Interested parties can listen live or to the recorded version athttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3403400 or at the Company's website: www.waterfurnace.com.More Information: WaterFurnace designs, manufactures and distributes geothermal heat pumps. The geothermal units use the renewable solar energy stored just below the surface to dramatically reduce the energy consumed by buildings for heating, cooling and hot water.Additional information is available on the Company's website: www.waterfurnace.com.WaterFurnace Renewable Energy, Inc. is traded in both Canadian dollars and U.S. dollars on the Toronto Stock Exchange under the symbol WFI for Canadian dollars and WFI.U for U.S. dollars.Risk and Uncertainties: This news release contains certain forward-looking statements that may or may not be realized. Investors should not rely solely on this information to make investment decisions. The Company's sales are related to the cost and stability of electricity, fuel oil, propane and natural gas. Federal, state and provincial building codes and energy incentives can also impact sales. The Company is subject to standard risks associated with most companies, such as normal competitive pressures.For further information: WaterFurnace Renewable Energy, Inc. 9000 Conservation Way Fort Wayne, IN 46809-9794 (260) 478-5667