Todd Shipyards Corporation Announces Dividend

SEATTLE--(Business Wire)--
Todd Shipyards Corporation ("Company") (NYSE:TOD) announced that
its Board of Directors, at its March meeting, declared a dividend of
five cents ($0.05) per share to be paid June 20, 2008 to all
shareholders of record as of June 5, 2008.

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.

Todd Shipyards Corporation
Shareholder Relations
Hilary Pickerel, 206-623-1635 Ext. 106

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