TORONTO, June 12, 2012 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT),
In accordance with the Company's dividend policy, the board of directors declared today a dividend of $0.02 on each common share outstanding, payable, on July 30, 2012, to shareholders of record at the close of business of July 13, 2012.
Also in accordance with the Company's dividend policy, the company is expected to pay a dividend of $0.02 on each common share outstanding on October 31, 2012, to shareholders of record at the close of business of October 12, 2012.
The dividend policy will be reviewed periodically by the board of directors. 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.
The Company advises that the dividend to be paid on the common shares on July 30, 2012 and October 31, 2012 are designated as an "eligible dividend" for Canadian income tax purposes.
ATN serves Canada's diverse cultural communities with 34 premium specialty television channels. ATN offers its flagship general interest service, several Bollywood movie channels, and a variety of channels that include sports, news, music, lifestyle, spiritual and several regional languages. ATN is Canada's pioneer distributor of World Class Cricket. ATN operates the only South Asian Radio Service 24 hours a day on XM across The United States and Canada.
For more details on ATN visit www.asiantelevision.com
Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk that the Company may in future change its dividend policy. Actual results might differ materially from results suggested in any forward-looking statements.
The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
For further information:
K. Classen CFO
Asian Television Network International Limited
Newmarket, Ontario L3Y 7B6