Dec. 29, 2011
/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
's expanding digital television market, today announced that the payment of a special cash dividend (the "Dividend") to its shareholders, initially scheduled to be made on or around
December 30, 2011
, will be postponed as regulatory approval by the foreign exchange authority in
for the repatriation of U.S. dollars relating to the Dividend is still pending.
May 20, 2011
, the Company announced a special cash dividend of
per share on the Company's ordinary shares, par value
per share. Shareholders of record, including holders of the Company's American Depository Shares ("ADSs"), as of the close of business on
June 20, 2011
, U.S. Eastern Daylight Time, are eligible to receive the Dividend. The record date for the Dividend is not affected by the postponement. The total amount of the Dividend is
. As of
September 30, 2011
, China Digital TV had cash and cash equivalents, restricted cash and bank deposits maturing over three months totaling
"This is a routine approval process, which, however, has been slower than we had anticipated," said Mr.
, China Digital TV's Chief Financial Officer. "We apologize for the inconvenience to our shareholders and will announce a new payment date as soon as practicable."
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.