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MFC Industrial lifts 2013 dividend by 9 percent

NEW YORK (AP) -- MFC Industrial is increasing its 2013 dividend by 9 percent to 24 cents per share.

Chairman and CEO Michael Smith said in a statement on Monday that this is the second straight increase in the company's annual dividend since it adopted its dividend policy in 2011.

The 2013 dividend will be paid at 6 cents per share each quarter. The first quarterly payment will be made on Feb. 8 to shareholders of record on Jan. 25.

U.S. shares of MFC Industrial Ltd. fell 12 cents to $9.97 in afternoon trading after rising earlier as high as $10.24, its highest level since October 2008.

MFC Industrial, based in Vancouver, British Columbia, finds and delivers raw materials to clients around the world.