China Distance Education Holdings Limited Declares Special Cash Dividend to Shareholders
China Distance Education Holdings Limited (NYSE: DL) 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."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.