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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
March 25, 2013 /CNW/ -
Asian Television Network International Limited (ATN) (TSX-SAT),
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
July 31st and
October 31st 2013. A dividend per share of
$0.02 per share was paid on
January 31, 2013.
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 purposes.
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.