Great Lakes Dredge & Dock Corporation Increases Quarterly Dividend to $0.021

Great Lakes Dredge & Dock Corporation GLDD - announced today that its Board of Directors has declared a quarterly cash dividend on its common stock. The Board approved increasing its annual dividend by $1 million resulting in an aggregate expected dividend of $5 million per year, the maximum allowed under the Company's senior credit facility. Future dividend payments remain subject to the discretion of the Board. This increase will result in an additional $250,000 paid to stockholders in the current quarter. The Board approved a $0.021 per share cash dividend, to be paid on June 17, 2011 to the holders of record of common stock of the Company at the close of business on June 10, 2011.