TORONTO, ONTARIO–(Marketwire – Jan. 20, 2011) – EnerCare Inc. ("EnerCare") (TSX:ECI) today announced a cash dividend of $0.054 per common share for the month of January 2011. The dividend will be payable on February 28, 2011 to shareholders of record at the close of business on January 31, 2011.
"This dividend is our first as a public corporation following our conversion and we are most pleased that it is at the same level ($0.648 annualized) as our monthly distributions as an income fund, with taxable Canadian individual investors realizing an increase in their returns through the application of dividend tax credits," said John Macdonald, President and Chief Executive Officer of EnerCare.
The dividend is designated as an "eligible dividend" for Canadian income tax purposes.
About EnerCare Inc.
EnerCare owns a portfolio of approximately 1.3 million installed water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns Stratacon Inc. and EnerCare Connections Inc., leading sub-metering companies, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.
Additional information regarding EnerCare is available on SEDAR at www.sedar.com or through EnerCare's websi te at www.enercare.ca. Information on the sub-metering businesses is also available at www.stratacon.ca and at www.enercareconnections.com.
For further information: EnerCare Inc.
905.695.7793 or 1.800.781.2943