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Press release from CNW Group

Cargojet Increases Dividend by 5.2%

Monday, February 27, 2012

Cargojet Increases Dividend by 5.2%08:00 EST Monday, February 27, 2012MISSISSAUGA, ON, Feb. 27, 2012 /CNW/ - the Board of Cargojet Inc. (the "Corporation") (TSX: CJT, CJT.A) announced today that it has increased its annualized dividend rate by 5.2% from $0.540 to $0.568 per common voting share and variable voting common voting share effective January 1, 2012.  Additionally, the Board of the Corporation announced today a cash dividend of $0.142 per share for the period from January 1, 2012 to March 31, 2012.  The dividend will be paid to all shareholders of record as at the close of business on March 20, 2012 and will be payable on or before April 5, 2012.Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet operates its network across North America each business night, utilizing a fleet of twelve all-cargo aircraft.Notice on Forward Looking Statements:Certain statements contained herein constitute "forward-looking statements".  Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business.  Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions.  These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the issuer's most recent Annual Information Form filed with the Canadian securities regulators, and its most recent Annual Consolidated Financial Statements and Quarterly Financial Statements and Notes thereto and related Management's Discussion and Analysis (MD&A), for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate.  The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event the issuer does update any forward-looking statement, no inference should be made that the issuer will make additional updates with respect to that statement, related matters, or any other forward-looking statement.For further information: P. Dhillon Vice President Marketing, Public & Government Relations Tel: (905) 501-7373 pdhillon@cargojet.com