SiriusXM Canada Announces Quarterly Dividend

TORONTO, Jan. 14, 2013 /CNW/ - Canadian Satellite Radio Holdings Inc. ("SiriusXM Canada" or the "Company") (TSX: XSR), parent of Sirius XM Canada Inc., today announced that the Company's Board of Directors has declared a cash dividend payment of C$0.0825 per Class A Share and C$0.0275 per Class B Share. The dividend will be payable on March 1, 2013 to shareholders of record at the close of business on January 25, 2013.

The quarterly dividend on the Class A  and Class B Shares are designated as an "eligible" dividend for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.

Class B Shares in the Company are convertible at any time at the holder's option into fully paid and non-assessable Class A Shares upon the basis of one Class A Share for three Class B Shares. The Company has issued 147,879,936 Class B Shares, which represent 49,293,312 Class A Shares based on the aforementioned conversion right. In the event that all Class B Shares are converted to Class A Shares, the total outstanding number of Class A Shares would be 123,233,856.

Forward-Looking Statements

Certain statements included above may be forward-looking in nature. Such statements can be identified by the use of forward-looking terminology such as "expects," "may," "will," "should," "intend," "plan," or "anticipates" or the negative thereof or comparable terminology, or by discussions of strategy. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact, including with respect to the payment of dividends in the future and future performance. Although SiriusXM Canada believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct, including with respect to the ability of the Company to pay dividends in the future. SiriusXM Canada's forward-looking statements are expressly qualified in their entirety by this cautionary statement. SiriusXM Canada makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in Canadian Satellite Radio Holdings Inc.'s filings with the Canadian securities regulators, available at www.sedar.com.

About SiriusXM Canada

Canadian Satellite Radio Holdings Inc. (TSX: XSR) operates as SiriusXM Canada. SiriusXM Canada is the country's leading audio entertainment company and broadcasts more than 120 satellite radio channels featuring premier sports, news, talk, entertainment and commercial-free music. SiriusXM Canada offers an array of content from the most recognized news and entertainment brands as well as from professional sports leagues including the NHL, NFL, MLB and CFL.

SiriusXM programming is available on a variety of devices including pre-installed and after-market radios in cars, trucks and boats, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available online at www.siriusxm.ca and on Apple, BlackBerry and Android-powered mobile devices.

SiriusXM Canada has partnerships with every major automaker and its radio products are available at more than 3,000 retail locations nationwide. To find out more about SiriusXM Canada (TSX: XSR), visit our website at www.siriusxm.ca.


SOURCE: SiriusXM Canada

For further information:

Morlan Reddock 
Sirius XM Canada 
416-513-7418 
morlan.reddock@siriusxm.ca

Kristen Dickson
TMX Equicom
416-815-0700 ext 273
kdickson@tmxequicom.com