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Press release from CNW Group

ShawCor Declares Quarterly Dividend

Thursday, March 01, 2012

ShawCor Declares Quarterly Dividend17:14 EST Thursday, March 01, 2012(TSX: SCL.A, SCL.B)TORONTO, March 1, 2012 /CNW/ -The Board of Directors today declareda 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 30th day of March 2012, to shareholders of record at the close of business on the 16th day of March 2012.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 March 2nd, at 10:00 AM EST, which will discuss the company's fourth 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