DAILY NEWS May 8, 2014 10:03 AM - 0 comments

Newalta posts Q1 results, elects new directors at special meeting

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By: HazMat Staff

Engineered environmental solutions company Newalta has reported Q1 results for 2014 and announced a 14 per cent increase in its quarterly dividend to $0.125 per share.

"In the first quarter, performance in New Markets and Oilfield was strong," said Al Cadotte, president and CEO of Newalta. "Revenue was up 10 per cent and Adjusted EBITDA increased 16 per cent, compared to last year,” he added.

Cadotte said that expects 20 per cent growth in adjusted EBITDA for 2014, “driven by strong contributions from our growth capital investments and improved market activity.”

He added that Newalta will “continue to grow our New Markets and Oilfield divisions as we review strategic alternatives for our Industrial Division."

For the full breakdown of Newalta’s Q1 report, click here.

Newalta Corporation has also announced the new directors elected at its annual and special meeting of shareholders held on May 7, 2014.

The detailed results of the vote are set out below:

Nominee                        Votes For            Votes Withheld   
                                  Number     Percent      Number        
Alan P. Cadotte               39,394,542      99.90%      38,781       
Harvey Doerr                  39,416,834      99.96%      16,489       
Robert J. Gemmell             39,407,259      99.93%      26,064      
Robert M. MacDonald           39,415,616      99.96%      17,707      
R. Vance Milligan             39,400,145      99.92%      33,178      
R.H. Dick Pinder              39,401,645      99.92%      31,678       
Gordon E. Pridham             39,401,450      99.92%      31,873      
Susan L. Riddell Rose         37,541,432      95.20%   1,891,891      
Tom Ryley                     39,403,600      99.92%      29,723      
Michael Starzer               39,399,334      99.91%      33,989      
Barry D. Stewart              39,401,716      99.92%      31,607    
Laurie Tugman                 39,401,734      99.92%      31,589       

The biographies of the directors as well as the audio recording of the annual and special meeting of shareholders are available at www.newalta.com.

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