December 6, 2010 / 12:41 PM / in 7 years

UPDATE 1-Canlan Ice Sports starts quarterly dividend

* Says to pay C$0.015 on Jan 17

* Says to pay shareholders of record Dec. 15

Dec 6 (Reuters) - Recreational and entertainment facilities operator Canlan Ice Sports Corp ICE.TO said its board approved the introduction of a quarterly dividend.

The company, which owns, manages or leases a network of 22 facilities in Canada and the U.S, said a dividend of 1.5 Canadian cents per share, would be paid on January 17, to shareholders of record Dec. 15.

“Initiating a quarterly dividend also reflects the continued confidence in our ability to generate strong seasonal cash flows, pay down debt and fund growth initiatives, such as our recent expansion into select US markets,” Chief Executive Michael Gellard said.

The British Columbia--based company’s shares, which have gained about 30 percent this year, closed at C$2 on Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Jarshad Kakkrakandy) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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