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Press release from CNW Group

SHAWCOR DECLARES QUARTERLY DIVIDEND

Thursday, May 12, 2011

SHAWCOR DECLARES QUARTERLY DIVIDEND16:05 EDT Thursday, May 12, 2011(TSX: SCL.A, SCL.B)TORONTO, May 12 /CNW/ - The Board of Directors today declared a dividend of eight cents (8.0 cents) per Class A Subordinate Voting Share and a quarterly dividend of seven and two hundred and seventy - three one thousandths cents (7.273 cents) per Class B Multiple Voting Share payable on the 31st day of May 2011, to shareholders of record at the close of business on the 24th day of May 2011.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 May 13th, at 10:00 AM EDT, which will discuss the company's first quarter 2011 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