/C O R R E C T I O N from source -- Asian Television Network International
In c8034 sent today at 15:32e the incorrect press release was sent in error,
please disregard. The correct version follows.
ATN Announces Quarterly Dividend Policy and Declares $0.02 Dividend payable on
April 30, 2013
TORONTO, March 25, 2013 /CNW/ - Asian Television Network International Limited
The Company is pleased to announce that the Company's board of directors has
adopted an updated regular quarterly dividend policy for the 2013 calendar
year and has declared a dividend payable on April 30, 2013.
This policy provides that a regular quarterly dividend of $0.02 per share will
to be paid on each common share of the Company on April 30th, July 31st and
October 31st 2013. A dividend per share of $0.02 per share was paid on January
This updated policy supersedes and replaces the policy announced on December
1, 2011 which contemplated the payment of a regular quarterly dividend for
2013 and subsequent years calculated as a percentage of the Company's earnings
for the immediately prior fiscal year.
The decision to continue in 2013 the policy adopted for 2012 reflects the
Company's ability to pay out in 2013 a dividend than would otherwise have been
payable under the previously announced earnings based formula.
In accordance with the Company's dividend policy, the board of directors
declared a quarterly dividend of $0.02 on each common share outstanding,
payable, on April 30, 2013, to shareholders of record at the close of business
of April 15, 2013.
The Company advises that the dividend to be paid on the common shares on April
30, 2013 are designated as an "eligible dividend" for Canadian income tax
The record date to determine those shareholders entitled to receive a dividend
payment for quarterly periods subsequent to April 30, 2013 will be set in
accordance with the policies of the TSX Venture Exchange, and will be
announced in advance of each payment date.
The dividend policy will be reviewed periodically by the board of directors of
the Company. The board of directors has the sole discretion to declare and to
adjust or eliminate dividends based on relevant considerations, including the
Company's need to retain capital to support its stability and growth, and
compliance with applicable laws.
ATN serves Canada's diverse cultural communities with 35 premium specialty
television channels. ATN offers its flagship general interest service, Several
Bollywood movie channels , and a variety of channels that include 3 sports
Channels, 3 news Channels , 3 music Channels , 2 lifestyle Channels, 3 Chinese
Channels and several General interest and regional language channels. ATN
operates a South Asian Radio Service on Satellite Radio across The United
States and Canada. Some ATN content is also available on any Bell mobile phone
that supports video. ATN has programming alliances with leading international
broadcasters. For more information please visit www.asiantelevision.com
Neither the Toronto Venture Exchange, nor its regulation services provider (as
that term is defined in the policies of the exchange), accepts responsibility
for the adequacy or accuracy of this release
Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict,
including the risk that the Company may in future change its dividend policy.
Actual results might differ materially from results suggested in any
The Company assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those reflected in
the forward-looking statements unless and until required by securities laws
applicable to the Company. Additional information identifying risks and
uncertainties is contained in filings by the Company with the Canadian
securities regulators, which filings are available at www.sedar.com.
For more details on ATN visitwww.asiantelevision.com
K. Classen CFO Asian Television Network International Limited Markham, Ontario
L3R 8E4 905-948-8199
SOURCE: Asian Television Network International Limited
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CO: Asian Television Network International Limited
NI: TLS TVNEWS DIV
-0- Mar/25/2013 22:09 GMT
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