AKITA Declares 14% Dividend Increase

CALGARY, March 6, 2013 /CNW/ - AKITA Drilling Ltd.'s Board of Directors approved the payment of an increased quarterly dividend to shareholders.

AKITA Drilling Ltd.'s Board of Directors approved an ordinary cash dividend of eight cents ($0.08) per share on the Outstanding Class A Non-Voting and Class B Common shares of the Corporation for payment on April 1, 2013 to shareholders of record at the close of business March 18, 2013.  On an annualized basis, this represents a 14% increase in dividend rates.  This dividend is an eligible dividend for Canadian Income Tax Purposes.

AKITA is an Alberta corporation engaged in the contract drilling business and is listed on the Toronto Stock Exchange under the symbol AKT.

SOURCE: AKITA Drilling Ltd.