BEIJING, April 15, 2016 /PRNewswire/ -- China Digital TV
Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the
"Company"), the leading provider of cloud-based application
platforms and conditional access ("CA") systems which enable
China's digital cable television
market to offer and secure diversified content services, today
announced that its Board of Directors declared a special cash
dividend of US$0.20 per ordinary
share. Each of the Company's American depositary shares represents
one ordinary share.
Shareholders of record as of the close of business on
April 29, 2016, U.S. Eastern Daylight
Time, will be eligible to receive the dividend. The dividend is
expected to be paid after regulatory approval from the State
Administration of Foreign Exchange in China. The Company will announce the payment
date as soon as possible.
Mr. Jianhua Zhu, China Digital
TV's Chairman and Chief Executive Officer commented, "The Board of
Directors is dedicated to maximizing shareholder value and believes
that paying shareholders a special dividend is the most efficient
use of cash at this time. Furthermore, we will continue to maintain
a strong cash position that will support us in pursuing our
multiple long-term growth objectives."
As of March 31, 2016, China
Digital TV had cash and cash equivalents and restricted cash
totaling US$70.9 million, or
US$1.17 per share on a diluted
basis.
About China Digital TV
Founded in 2004, China Digital TV enables television network
operators to manage, extend and diversify content services across
households and public areas in China. China Digital TV is the leading
provider of cloud-based application platforms and network
broadcasting platform services to Chinese cable operators, helping
them to effectively bring mobile gaming apps and other
entertainment options to household television sets, and extend
cable programming outside the home to any mobile device. China
Digital TV is also the leading provider of CA systems in
China's digital television market.
CA systems enable television network operators to secure the
delivery of content to their subscribers. The Company cooperates
with nearly all of China's cable
television operators.
For more information please visit the Investor Relations section
of China Digital TV's website at http://ir.chinadtv.cn.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended. Such forward-looking
statements are made under the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by
terminology such as "will", "expects", "anticipates", "future",
"intends", "plans", "believes", "estimates", "may", "should" and
similar expressions. China Digital TV may also make forward-looking
statements in its periodic reports filed with the Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about China
Digital TV's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from projections contained or implied in any
forward-looking statement, including but not limited to the
following: competition in the CA systems, digital television, cable
television and related industries in the PRC and the impact of such
competition on prices, our ability to implement our business
strategies, changes in technology, the progress of the television
digitalization in the PRC, the structure of the cable television
industry or television viewer preferences, changes in PRC laws,
regulations or policies with respect to the CA systems, digital
television, cable television and related industries, including the
extent of non-PRC companies' participation in such industries, and
changes in political, economic, legal and social conditions in the
PRC, including the government's policies with respect to economic
growth, foreign exchange and foreign investment.
Further information regarding these and other risks and
uncertainties is included in our annual report on Form 20-F and
other documents filed with the Securities and Exchange Commission.
China Digital TV does not assume any obligation to update any
forward-looking statements, which apply only as of the date of this
press release.
For investor and media inquiries, please contact:
China Digital TV Holding Co., Ltd.
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
Email: ir@chinadtv.cn
ICR, Inc.
Charles Eveslage
Tel: +1 (646) 328-1950
Email: stv@icrinc.com
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SOURCE China Digital TV Holding Co., Ltd.