Wednesday, June 5, 2013

Pason Systems Inc. - PSI.t

Pason Systems Inc. - PSI.t strategic focus is on developing unique proprietary solutions and providing the industry-best in the petroleum service industry. With a dominant Canadian wellsite presence, the company is pursuing a leading position in the United States, and growing operations in South America and Australia.

An annual average return of 25% on shareholders’ equity over the past decade speaks to the future.

On May 3, 2013 the company released News

"Pason Systems Inc. (PSI.TO). The Board of Directors of Pason Systems Inc. (with Mr. Jim Hill, the significant shareholder through J.D Hill Investments Ltd., abstaining from voting) today declared a quarterly dividend of thirteen cents (C$0.13) per share on the Company’s common shares. The dividend will be paid on July 2, 2013 to shareholders of record at the close of business on June 14, 2013. The Board of Directors approved, in November 2012, a change to the Company’s dividend policy whereby beginning in 2013 the Company would adopt a quarterly dividend to replace the semi-annual dividend.

Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.

Pason Systems Inc. Pason Systems Inc. is a leading provider of instrumentation systems to land-based and offshore drilling rigs worldwide. The company’s rental solutions, which include data acquisition, wellsite reporting, remote communications, and web-based information management, maximize rig uptime, improve work efficiency, and minimize operating costs. Pason’s common shares trade on the Toronto Stock Exchange under the symbol PSI.