COM DEV Initiates Quarterly Dividend

CAMBRIDGE, ON, June 4, 2014 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced a dividend of $0.03 per common share with respect to the second quarter of fiscal 2014, in accordance with its previously announced intentions.

   
•     Dividend Per Common Share:
•     Ex-Dividend Date:
•     Record Date:
•     Payable Date:
C$0.03
June 11, 2014
June 13, 2014
June 27, 2014

"With the sustained strong performance of our equipment segment, combined with the continued positive growth from exactEarth, the Board and executive management agreed that this is the appropriate time to initiate a dividend," said Terry Reidel, Chairman of COM DEV International Ltd.

"We are pleased at our ability to provide a return to shareholders through a quarterly dividend," added Michael Pley, Chief Executive Officer. "We are confident in our ability to support a dividend while maintaining a focus on growth - both organically and through acquisitions."

About COM DEV

COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. The company has a staff of 1,200, annual revenues of $216 million, and facilities in Canada, the United Kingdom and the United States. COM DEV designs manufactures, and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. The company has won contracts to supply its equipment on over 900 spacecraft. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.

This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company's business prospects may be materially different from forward-looking statements made by the Company.

The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.

 

 

SOURCE: Com Dev International Ltd.

For further information:

Gary Calhoun
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
gary.calhoun@comdev.ca

Craig MacPhail
TMX Equicom
Tel: (416) 815-0700 ext. 290
cmacphail@tmxequicom.com

Profil de l'entreprise

Com Dev International Ltd.

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