Bowater Declares Quarterly Dividend and Announces Results of Annual Meeting.Business Editors GREENVILLE, S.C.--(BUSINESS WIRE)--May 9, 2001 The Board of Directors of Bowater Incorporated (NYSE NYSE See: New York Stock Exchange : BOW) today declared a quarterly cash dividend of $0.20 per common share payable on July 2, 2001, to holders of record at the close of business on June 11, 2001. Simultaneously, Bowater's subsidiary, Bowater Canada Inc., declared a quarterly cash dividend to holders of its exchangeable shares (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : BWX) in the same amount with the same record and payable dates. Bowater also announced the results of the vote taken at its annual meeting held in Greenville, SC, today. Re-elected to the Board of Directors for three-year terms were: --Arnold M. Nemirow, Chairman, President and Chief Executive Officer of Bowater --Arthur R. Sawchuk, Chairman of Manulife Financial Manulife Financial (NYSE: MFC, TSX: MFC, SEHK: 945, PSE: MFC), also known as The Manufacturers Life Insurance Company, is a major Canadian insurance company and financial services provider. Corporation --Cinda A. Hallman, President and Chief Executive Officer of Spherion Corporation Former Board member H. David Aycock has reached the mandatory retirement age and did not stand for re-election. Bowater Incorporated, headquartered in Greenville, SC, is a global leader in newsprint. In addition, the company makes coated and uncoated groundwood papers, bleached kraft pulp and lumber products. With Bowater's pending acquisition of Alliance Forest Products Inc., the company will have 12 pulp and paper mills in the United States, Canada and South Korea and 13 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sawmills that produce softwood and hardwood lumber. Bowater also owns and operates a coating operation. Bowater's operations when combined with Alliance will be supported by approximately 1.8 million acres of timberlands owned or leased in the United States and Canada and 31 million acres of timber cutting rights in Canada. Bowater is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , U.S. regional exchanges and the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE: BWX). All amounts are in U.S. dollars. |
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