SHANGHAI, China, Sept. 13, 2012 (GLOBE NEWSWIRE) -- RDA Microelectronics (Nasdaq:RDA) ("RDA Microelectronics" or the "Company"), a fabless semiconductor company that designs, develops and markets Radio Frequency (RF) and mixed-signal wireless SoC semiconductors for cellular, connectivity and broadcast applications, today announced that its Board of Directors declared a special one-time cash dividend of US$0.20 per ordinary share, or US$1.20 per American depositary share ("ADS"), each representing six ordinary shares of the Company. The cash dividend will be payable on October 18, 2012 to shareholders of record at the close of business on October 1, 2012. Dividends to be paid to the Company's ADS holders through the depositary bank will be subject to the terms of the deposit agreement, including the fees and expenses payable thereunder.
The board of directors authorized and approved the Company's payment of this special one-time, cash dividend in the aggregate amount of approximately US$57 million. As of June 30, 2012, the Company had a total of approximately US$159.0 million in cash, cash equivalents and short-term investments.
Vincent Tai, chairman and CEO of RDA Microelectronics, commented, "We are pleased to announce this special one-time dividend as a result of our strong balance sheet and exceptional financial performance over the past several years. In 2011, we grew our revenue by 51% and generated over US$63 million in cash flow from operations, which we have extended into the first half of 2012 by generating approximately US$39 million in operating cash flow. We have invested US$36 million in cash in total for the baseband technology from Coolsand and digital TV SoC IP from Trident. We believe we have acquired all of the key know-how to support the Company's growth in the next three to five years. Our ability to rapidly grow our business and generate consistent cash flow has provided us the resources to bring a return of capital to our shareholders without impacting our investment in R&D and pursuit of strategic growth opportunities. This special dividend is the first in our Company's history and underscores our commitment to delivering value to our shareholders."