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Todd Shipyards Corporation Announces Increase in Its Quarterly Dividend

SEATTLE--(BUSINESS WIRE)--Todd Shipyards Corporation ("Company") (NYSE:TOD) announced that its Board of Directors, at its March meeting, declared a two and one-half cent ($0.025) increase in its quarterly dividend to seven and one-half cents ($0.075) per share, to be paid June 23, 2010 to all shareholders of record as of June 8, 2010.

The Company's wholly owned subsidiary, Todd Pacific, performs a substantial amount of repair and maintenance work on commercial and federal government vessels engaged in various seagoing trade activities in the Pacific Northwest and provides new construction and industrial fabrication services for a wide variety of customers. Its customers include the U.S. Navy, the U.S. Coast Guard, NOAA, the Washington State Ferry system, the Alaska Marine Highway System, and various other commercial and governmental customers. Todd has operated a shipyard in Seattle since 1916.

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