China Digital issues update on special $1.50 cash dividend
China Digital issued an update on the announced special cash dividend of $1.50 per ordinary share declared on April 21. The aggregate amount of cash dividend to be paid approximates $90M. Shareholders of record as of the close of business on May 31 will be eligible to receive the dividend. The payment date of this special cash dividend is expected to be on or about June 15. The funds for the dividend, all of which have been received by the company, will come from the proceeds previously received from the Beijing Super TV sale.So far, the company's offshore account has received a portion of the proceeds in US dollars equivalent to RMB100M. The remaining proceeds are still in the procedures of currency exchange from RMB to US dollars. If the company is unable to pay the dividend on June 15 due to the ongoing foreign currency conversion procedures, the company commits to update the market with a new special dividend payment date as soon as possible. The company does not believe the delisting process will impact the payment of this dividend to shareholders.