AIRPORT CITY BUSINESS PARK, Israel, March 26,
2012 /PRNewswire/ --
RRsat Global Communications Network Ltd. (NASDAQ: RRST),
a leading provider of comprehensive content management and global
distribution services to the television and radio broadcasting
industries announced today that its Board of Directors decided on
March 25th, 2012 to
distribute a cash dividend in the amount of $0.23 per ordinary share, and in the aggregate
amount of approximately $4 million.
The dividend will be payable on April 19,
2012 to all of the Company's shareholders of record at the
end of the trading day on the NASDAQ on April 5, 2012.
Mr. Shlomo Shamir, Chairman of
RRsat stated: "We are pleased to distribute a dividend of
$0.23 per share to our shareholders.
During the past three years we have used some of our cash for
a major infrastructure upgrade and expansion of our main teleport,
a project that was completed last year. Our board of directors
decided to distribute some of our cash as dividends to our
shareholders, while maintaining enough cash to run our business and
for any future strategic opportunities."
RRsat's cash, cash equivalents and marketable securities as of
December 31, 2011 totaled
$33.2 million. According to
Israeli tax law, the Company will withhold at source, 25%-30% of
the dividend amount payable to each shareholder, subject to
applicable terms and exemptions. The Company's dividend policy is
described in detail in its most recent Annual Report on Form 20-F
for the year ended December 31,
2011.
About RRsat Global Communications
Network Ltd.
RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides
global, end-to-end, content management and distribution services to
the rapidly expanding television and radio broadcasting industries,
covering more than 150 countries. Through its RRsat Global Network,
composed of satellite and terrestrial fiber optic capacity and the
public Internet, RRsat provides high-quality and flexible global
distribution services 24/7 to more than 630 channels reaching
multiplatform operators, Internet TV and direct-to-home
viewers worldwide and also offers occasional use services
for sports, news and events with a fleet of flyaways and over
10 transportable satellite news gathering services (SNG)
units. More than 130 television and radio channels use
RRsat's advanced production and playout centers comprising
comprehensive media asset management services. Visit the company's
website http://www.rrsat.com
This press release contains forward
looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding (i) the growth of our business and the television and
radio broadcasting industries, (ii) our expectation to expand our
client base and sell additional services to our existing client
base, (iii) our ability to successfully integrate the teleports we
acquired, (iv) our ability to develop and commercialize the
RRinternetTV service, (v) our expectation to extend the average
length of our contracts in the future, (vi) our ability to develop,
expand and commercialize our HD Platform, (vii) our ability to
report future successes, (viii) our ability to expand our activity
in the American market, and (ix) our intention to distribute
dividends in the future and the size of any dividends declared.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies and the
industry as of the date of this press release. The company
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes
in its expectations, except as may be required by law.
Forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
contemplated by the forward-looking statements, including the risks
indicated in our filings with the Securities and Exchange
Commission (SEC). For more details, please refer to our SEC filings
and the amendments thereto, including our Annual Report on Form
20-F for the year ended December 31,
2011 and our Current Reports on Form 6-K.
Company Contact Information:
Itzhak Zion, CFO
Tel: +972-3-928-0777
Email: investors@rrsat.com
External Investor Relations Contacts:
Ehud Helft / Porat Saar
Tel: +1-646-233-2161
rrsat@ccgisrael.com
SOURCE RRSat Global Communications Network Ltd