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GLENTEL INC. INCREASES ITS 1ST QUARTER DIVIDEND

^{Published on 2011-01-04 05:10:29 - Market Wire}
 

BURNABY, BC, Jan. 4 /CNW/ - The board of directors of GLENTEL Inc. (TSX: GLN) is pleased to declare a quarterly dividend of $0.1475/share, for shareholders of record as of Tuesday, January 11, 2011, payable Thursday, January 27, 2011.

This dividend represents a $.05 or 51% increase, quarter over quarter for the corresponding period in 2010.

"The dividend increase reflects the board of directors' desire to declare a regular quarterly dividend that better reflects the company's growing and sustainable annual net earnings," stated Thomas Skidmore, GLENTEL's president and chief executive officer. "In conjunction with regular dividends, the board of directors may consider an extraordinary dividend in the 4^th quarter for a combined dividend distribution up to 50% of the company's annual net earnings."

About GLENTEL
GLENTEL (TSX: GLN) is a leading provider of innovative and reliable telecommunications services and solutions in Canada and the United States. Founded in 1963 and headquartered in Burnaby, BC, GLENTEL comprises three operating divisions - Retail Canada, Retail U.S. and Business - that service thousands of consumers and commercial communications customers. The company operates more than 280 stores across Canada located primarily in retail malls and Costco Wholesale, as well as 140 stores in the United States. To its business and government customers, GLENTEL offers wireless service, rental equipment, satellite and terrestrial network systems, tower sites, and wireless asset monitoring. As the largest multi-carrier mobile phone retailer in Canada, it offers a choice of network carrier and wireless device or phone to Canadian consumers. GLENTEL operates its business under the trading names Glentel Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc. and SANS FIL etc., and Diamond Wireless - Verizon Premium Retailer in the U.S.

NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

To secure a copy of GLENTEL's annual report or for additional information visit [ www.glentel.com ] or [ www.sedar.com ].