(TSX: SCL.A - News, SCL.B - News)

TORONTO, Nov. 3 /PRNewswire-FirstCall/ - The Board of Directors today declared a dividend of seven cents (7.00 cents) per Class A Subordinate Voting Share and six and three hundred and sixty-four one thousandths cents (6.364 cents) per Class B Multiple Voting Share payable on the 30th day of November, 2009, to shareholders of record at the close of business on the 16th day of November, 2009.

For Canadian resident shareholders, these dividends are designated as "eligible dividends" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

ShawCor will be hosting a Shareholder and Analyst Conference Call and Webcast on Wednesday, November 4th, at 10:00 AM ET, which will discuss the company's third quarter 2009 financial results.

Please visit our website at www.shawcor.com for further details.