This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sohu Discusses Sogou Special Dividend Distribution

Stocks in this article: SOHU

BEIJING, Sept. 18, 2013 /PRNewswire/ -- Inc. (NASDAQ: SOHU), China's leading online media, search, gaming, community and mobile service group, announced today that its majority-owned search subsidiary Sogou Inc. ("Sogou"), has paid to the holders of Series A Preferred Shares of Sogou ("Series A Preferred Shares") a special dividend in the aggregate amount of $300,892,698. Sohu had previously reported in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on Monday, September 16, 2013 that the dividend had been declared by Sogou's board of directors, and that Sogou would pay the dividend using a portion of the net amount of $448 million in cash proceeds from an investment in Sogou by a wholly-owned subsidiary of Tencent Holdings Limited. Sohu's wholly-owned subsidiary (Search) Limited ("Sohu Search"), received its full pro rata share of the dividend based on the full number of  Series A Preferred Shares it owns, which consists of 24,000,000 shares, as did China Web Search (HK) Limited ("China Web"), which holds 14,400,000 Series A Preferred Shares. Photon Group Limited ("Photon"), which is the investment vehicle of Dr. Charles Zhang, Sohu's Chairman and CEO, and which holds 38,400,000 Series A Preferred Shares of Sogou, waived receipt of the dividend with respect to all but 6,400,000 of the shares Photon holds.  Thus, although Photon holds the most Series A Preferred Shares of the three holders, Photon received the smallest amount of the dividend of the three. The amount of the divided received by Sohu Search was $161,192,517; the amount received by China Web was $96,715,510; and the amount received by Photon was $42,984,671.  

(Logo: )

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs