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China Digital TV Declares Special Cash Dividend to Shareholders


BEIJING, Nov. 22, 2010 -- /PRNewswire-Asia/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of conditional access ("CA") systems to China's expanding digital television market, today declared a special cash dividend of US$2.00 per share on the Company's ordinary shares, par value US$0.0005 per share, to be paid in two installments of US$1.00 each during 2011. Each of the Company's American depositary shares represents one ordinary share.

Shareholders of record as of the close of business on December 23, 2010, U.S. Eastern Standard Time, will be eligible to receive the dividend. The first installment of the dividend is expected to be paid on or around January 13, 2011, and the second installment is expected to be paid in due course after the completion of the ongoing dividend repatriation process by the Company's PRC subsidiaries.

Mr. Jianhua Zhu, China Digital TV's Chairman and Chief Executive Officer commented, "Our Board of Directors believes that a special dividend is an efficient use of cash to maximize shareholder value at this time. Meanwhile, our robust cash reserves and consistent, healthy operating cash flow are sufficient to support our multiple growth objectives."

As of September 30, 2010, China Digital TV had cash and cash equivalents, restricted cash and short-term investments totaling US$252.5 million, or US$4.30 per share on a diluted basis.


Read more: http://www.sunherald.com/2010/11/22/2658297/china-digital-tv-declares-special.html#ixzz161rTCmIH