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Press release from CNW Group

High Arctic Increases Monthly Dividend

Tuesday, March 19, 2013

High Arctic Increases Monthly Dividend16:01 EDT Tuesday, March 19, 2013/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/ RED DEER, AB, March 19, 2013 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO) ("High Arctic" or the "Corporation") is pleased to announce that its Board of Directors has approved a 25% increase in the monthly dividend amount.  The Board has declared a dividend of $0.0125 per share to holders of common shares payable on April 12, 2013 to holders of High Arctic common shares of record at the close of business on March 28, 2013. The ex-dividend date is March 26, 2013. The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.Michael Binnion, Chairman of the Board of Directors, stated "The increase in the dividend rewards our shareholders for the strong financial results of 2012 and our expectations that 2013 will be solid as well.  The new dividend rate equates to an annual dividend amount of $7.5 million which is 21.5% of our reported cash flows provided by operations in 2012 of $34.9 million".About High Arctic The Corporation is a provider of oilfield services, including contract drilling, specialized well completions and equipment rentals.  Based in Red Deer, Alberta, High Arctic has domestic operations throughout western Canada and international operations in Papua New Guinea.SOURCE: High Arctic Energy Services Inc.For further information: Ken Olson Chief Financial Officer 403 508 7836 ext 103