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Press release from CNW Group

ShawCor Declares Quarterly Dividend

Wednesday, August 10, 2011

ShawCor Declares Quarterly Dividend15:40 EDT Wednesday, August 10, 2011(TSX: SCL.A, SCL.B)TORONTO, Aug. 10, 2011 /CNW/ - The Board of Directors today declareda dividend of eight cents (8.00 cents) per Class A Subordinate Voting Share 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 August 2011, to shareholders of record at the close of business on the 19th day of August 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 Thursday August 11th, at 10:00 AM EDT, which will discuss the company's second 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