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Press release from CNW Group

ShawCor Declares Quarterly Dividend

Tuesday, May 08, 2012

ShawCor Declares Quarterly Dividend16:06 EDT Tuesday, May 08, 2012(TSX: SCL.A, SCL.B)TORONTO, May 8, 2012 /CNW/ - The Board of Directors today declareda dividend of ten cents (10.0 cents) per Class A Subordinate Voting Share and a quarterly dividend of nine and ninety one, one thousandths cents (9.091 cents) per Class B Multiple Voting Share payable on the 31st day of May 2012, to shareholders of record at the close of business on the 24th day of May 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 Wednesday May 9th, at 10:00 AM EDT, which will discuss the company's first quarter 2012 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