Algoma Central Corporation - Dividend Announcement

ALC-T

TORONTO, Jan. 23, 2012 /CNW/ - Algoma Central Corporation is pleased to announce that the Board of Directors of the Corporation has authorized payment of a quarterly dividend to shareholders of $0.50 per common share. The dividend is payable on March 1, 2012 to shareholders of record on February 16, 2012. This dividend represents an increase of $0.05 per share to the quartertly dividend paid by the Corporation.

Greg D. Wight, FCA				Peter D. Winkley, CA
President and Chief Executive Officer				Vice President, Finance and Chief Financial Officer
905-687-7850				905-687-7897