LONGUEUIL, QC, Nov. 10 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. ("Mediagrif") (TSX:MDF) today announced that it has adopted a cash dividend policy. This decision reflects Mediagrif's commitment to redistributing part of its liquidities in excess of the cash requirements of its growth plan. Initiatives put in place over the course of the past quarters have allowed the Corporation to achieve profitability and cash flow objectives that justify such a policy.
Mediagrif intends to pay to its shareholders a semi-annual dividend of $0.10 per share, beginning with the third quarter of 2010.
"We are very pleased to announce the implementation of this cash dividend policy," said Claude Roy, Mediagrif's CEO. "With our sound financial situation, we are in a position to pay a dividend to our shareholders while continuing to implement our growth strategy."
The initial dividend under the newly implemented policy will be payable on December 15, 2009 to shareholders of record at the close of business on December 1st, 2009. The dividend will be an "eligible dividend" for Canadian tax purposes.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading operator of e-commerce solutions. Mediagrif's e-business networks allow buyers and sellers within specific industries to source, purchase or sell products and to exchange documents more efficiently using the Internet. Mediagrif operates 15 networks, including industry leaders The Broker Forum, Power Source On-Line, Telecom Finders, Global Wine & Spirits and Polygon. Mediagrif also owns MERX, the exclusive provider of e-publishing services to the Government of Canada, and is a leading provider of government bid aggregation services and e-procurement services in the U.S. Headquartered in Longueuil, Mediagrif has several offices in North America and Asia. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. All amounts are in Canadian dollars.
SOURCE Mediagrif Interactive Technologies Inc.
For further information: For further information: Claude Roy, Chief Executive Officer, (450) 677-8797, ext. 2004, Toll Free: 1-877-677-9088, ext. 2004, firstname.lastname@example.org; Suzanne Mercier, Chief Financial Officer, (450) 677-8797, ext. 2135, Toll Free: 1-877-677-9088, ext. 2135, email@example.com