RRsat to Pay Semi-Annual Dividend of $0.16 Per Share on June 13, 2013 As Previously Announced, Company to Distribute Approximately $2.77 Million in Aggregate Profits to Investors on June 13, 2013
AIRPORT CITY BUSINESS PARK, Israel, June 13, 2013 /PRNewswire/ --
RRsat Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of comprehensive digital content management and global distribution services to the television and radio broadcasting industry, today reminded investors that its board of directors voted unanimously to distribute a semi-annual cash dividend of $0.16 per share to its shareholders. The dividend payment will be distributed on June 13, 2013 for shareholders of record as of the end of the trading day on the NASDAQ on May 20, 2013.
This represents a dividend yield of 3.9% based on the share price as of June 10, 2013.
"RRsat has a sustainable business model that produces significant and predictable free cash flow," commented Avi Cohen, CEO of RRsat. "In the past 5 years we've distributed over $45 million of our profits as dividends to enhance shareholders' value. Our board continues to evaluate our ongoing capital needs and as we continue to generate high cash flow we believe that dividend distribution is a good way to reward our shareholders."
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
Safe Harbor Statement
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) our ability to consummate the transaction in a timely manner, or at all, (ii) our ability to successfully integrate the acquired assets, (iii) the growth of our business in the United States and elsewhere,(iv) the growth of our OU business, (v), our ability to build a stronger local presence in the North American region (vi) our expectation to expand our client base and sell additional services to our existing client base, and (vii) our ability to report future successes. 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. We undertake no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our 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, 2012 and our Current Reports on Form 6-K.
Company Contact Information:
Miki Hakak, Head of Marketing
Investor Relations Contacts:
Brett Maas/ Miri Segal-Scharia
Brett@haydenir.com / firstname.lastname@example.org
SOURCE RRSat Global Communications Network Ltd