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China Distance Education Holdings Limited Declares Special Cash Dividend to Shareholders
Nov 16, 2011 (03:11 PM EST)
US$0.12 per Ordinary Share and US$0.48 per ADS
BEIJING, Nov. 16, 2011 /PRNewswire-Asia-FirstCall/ -- China Distance Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a leading provider of online education in China focusing on professional education, today announced that its Board of Directors has approved and declared a special cash dividend of US$0.12 per ordinary share on its outstanding shares to shareholders of record as of the close of trading on December 15, 2011.
Holders of American Depositary Shares ("ADS"), each representing four ordinary shares of CDEL, are accordingly entitled to the cash dividend of US$0.48 per ADS. The depository, Deutsche Bank Trust Company Americas, will charge a fee of US$0.02 per ADS when the dividends are distributed on or about December 25, 2011.
"CDEL completed the fourth quarter of fiscal year 2011 with cash balance of US$60.3 million from continuing operations on its balance sheet. In light of our strong cash position and other relevant factors, we have decided to return a total of approximately US$15.3 million in special dividends to our shareholders," said Mr. Zhengdong Zhu, Chairman and Chief Executive Officer of CDEL. "Such dividend distribution continues to reflect our ongoing commitment to maintaining a healthy cash balance while returning value to shareholders."
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals and other course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers in China in the areas of accounting, law, healthcare, construction engineering, and other industries. The Company also offers online test preparation courses to self-taught learners pursuing higher education diplomas or degrees and to secondary school and college students preparing for various academic and entrance exams. In addition, the Company offers online foreign language courses, offline GaoKao retake courses and offline business start-up training courses.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain "forward-looking statements" within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, the Company's projected cash balance and its growth prospects. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, in addition to those results discussed in the Company's periodic reports that are filed or furnished with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE China Distance Education Holdings Limited