TORONTO, April 14, 2014 /CNW/ - Sirius XM Canada 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$0.1050 per Class A Share, C$0.1050 per Class C Share and C$0.0350 per Class B Share. The dividend will be payable on May 14, 2014 to shareholders of record at the close of business on April 29, 2014.
The quarterly dividend on the Class A, Class C, and Class B Shares is 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 72,129,510 Class B Shares, which represent 24,043,170 Class A Shares based on the aforementioned conversion right. The Company has also issued 4,438,527 Class C shares. In the event that all Class B Shares are converted to Class A Shares, the total outstanding number of Class A Shares would be 123,456,275.
About SiriusXM Canada
Sirius XM Canada Holdings Inc. (TSX: XSR) operates as SiriusXM Canada. SiriusXM Canada, with approximately 2.4 million subscribers, is one of 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 every major sport including the NHL, NFL and MLB.
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 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.
Join SiriusXM Canada on Facebook at facebook.com/siriusxmcanada, on Twitter at twitter.com/siriusxmcanada and on Youtube at youtube.com/siriusxmcanada.
SOURCE: Sirius XM Canada Holdings Inc.
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