/C O R R E C T I O N -- China Digital TV Holding Co., Ltd./
BEIJING, April 2, 2014
In the news release, China Digital TV Announces Special Cash Dividend to
Shareholders, issued 02-Apr-2014 by China Digital TV Holding Co., Ltd. over PR
Newswire, we are advised by the company that the second paragraph, first
sentence, should read "April 14th" rather than "April 9" as originally issued.
The complete, corrected release follows:
China Digital TV Announces Special Cash Dividend to Shareholders
BEIJING, April 2, 2014 /PRNewswire/ -- China Digital TV Holding Co., Ltd.
(NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of
conditional access ("CA") systems and comprehensive services to China's
expanding digital television market, today declared a special cash dividend of
US$0.50 per share on the Company's ordinary shares, par value US$0.0005 per
share. Each of the Company's American depositary shares represents one
Shareholders of record as of the close of business on April 14th, U.S. Eastern
Standard Time, will be eligible to receive the dividend. The dividend is
expected to be paid on or around May 9, 2014.
"China Digital TV is always looking to provide excellent value to our
shareholders and we believe that a special dividend is a prudent use of cash
at this time. Our balance sheet and revenue remain strong enough to support
our continued focus on R&D and other long-term objectives," commented Mr.
Jianhua Zhu, China Digital TV's Chairman and Chief Executive Officer.
This is the fifth time that the Company has declared dividends to its
shareholders since its initial public offering and listing on the NYSE in
2007. Going forward, China Digital TV's board of directors will continue to
evaluate the Company's dividend policy based on various factors, including
those relating to shareholder value.
As of December 31, 2013, China Digital TV had cash and cash equivalents and
restricted cash totaling US$80 million, or US$1.35 per share on a diluted
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking statements
are made under the "safe harbor" provisions of the U.S. 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. Such forward-looking
statements include, without limitation, statements regarding the outlook for
the fourth quarter of 2013 and comments by management in this announcement
about trends in the CA systems, digital television, cable television and
related industries in the PRC and China Digital TV's strategic and operational
plans and future market positions. China Digital TV may also make
forward-looking statements in its periodic reports filed with the U.S.
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
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
U.S. 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.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of CA systems and
comprehensive services to China's expanding digital television market. CA
systems enable television network operators to manage the delivery of
customized content and services to their subscribers. China Digital TV
conducts substantially all of its business through its PRC subsidiary, Beijing
Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV
Technology Co., Ltd., as well as subsidiaries of its affiliate.
For more information please visit the Investor Relations section of China
Digital TV's website at http://ir.chinadtv.cn
Senior Supervisor of Investor Relations
Tel: +86-10-6297-1199 x 9780
In the US:
SOURCE China Digital TV Holding Co., Ltd.
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