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China Digital TV Declares Special Cash Dividend to Shareholders

December 19, 2008 | About:

Press Release: China Digital TV Declares Special Cash Dividend to Shareholders

CHINA DIGITAL TV is the leading provider of conditional access systems to Chinas rapidly growing digital television market.They conducts substantially all of its business through its subsidiaries Beijing Super TV Co. Ltd. Beijing Novel Super Media Investment Co. Ltd. and its affiliate Beijing Novel-Super Digital TV Technology Co. Ltd. China Digital TV Holding Co. Ltd. has a market cap of $365.47 million; its shares were traded at around $6.98 with a P/E ratio of 8.3 and P/S ratio of 6.59. More on STV:

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Press Release:

BEIJING, Dec. 19 /PRNewswire-Asia/ -- China Digital TV Holding Co., Ltd.(NYSE: STV) ("China Digital TV" or the "Company"), the leading provider ofconditional access systems to China's rapidly growing digital televisionmarket, today announced that its board of directors has declared a specialcash dividend of US$1.00 per share on the Company's ordinary shares, par valueUS$0.0005 per share. The special cash dividend is payable on or around February 28, 2009 toshareholders of record as of the close of business on January 8, 2009, U.S.Eastern Standard Time. "Our board of directors is confident in China Digital TV's ability toachieve our strategic objectives and believes that a special dividend is anefficient use of our cash to maximize shareholder value at this time," said Mr.Jianhua Zhu, China Digital TV's chairman and chief executive officer. "Withour industry leadership, strong cash position and long-standing relationshipswith cable operator clients, we believe we remain well-positioned forlong-term growth both organically and through acquisitions." As a matter of company policy, China Digital TV will consider declaringand paying dividend at least once every two years, for a given period, subjectto the board of directors' determination that (i) the Company has sufficientprofit attributable to shareholders for such period and (ii) the Company'sfunding requirements can be fully satisfied if a proposed dividend is declaredand paid. In addition, the board of directors of the Company will review anddecide whether to revise the Company's dividend policy, from time to time, inlight of the Company's future operations and earnings, capital requirementsand surplus, financial condition, contractual restrictions, general businessconditions and other factors as the board of directors may deem relevant. Safe Harbor Statement This announcement contains forward-looking statements within the meaningof Section 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended. Such forward-lookingstatements are made under the "safe harbor" provisions of the U.S. PrivateSecurities Litigation Reform Act of 1995. These forward-looking statementscan be identified by terminology such as "will," "expects," "anticipates,""future," "intends," "plans," "believes," "estimates," "may," "should" andsimilar expressions. China Digital TV may also make forward-lookingstatements in its periodic reports to the U.S. Securities and ExchangeCommission, in its annual report to shareholders, in press releases and otherwritten materials and in oral statements made by its officers, directors oremployees to third parties. Statements that are not historical facts,including statements about China Digital TV's beliefs and expectations, areforward-looking statements. Forward-looking statements involve inherent risksand uncertainties. A number of factors could cause actual results to differmaterially from projections contained or implied in any forward-lookingstatement. Further information regarding such risks and uncertainties isincluded in China Digital TV's annual report on Form 20-F and other documentsfiled with the U.S. Securities and Exchange Commission. China Digital TV doesnot assume any obligation to update any forward-looking statements, whichapply only as of the date of this press release. About China Digital TV Founded in 2004, China Digital TV is the leading provider of conditionalaccess ("CA") systems to China's rapidly growing digital television market. CAsystems enable television network operators to manage the delivery ofcustomized content and services to their subscribers. China Digital TVconducts substantially all of its business through its subsidiaries, BeijingSuper TV Co., Ltd. and Beijing Novel-Super Media Investment Co., Ltd., and itsaffiliate, Beijing Novel-Super Digital TV Technology Co., Ltd. For more information please visit the Investor Relations section of ChinaDigital TV's website at http://ir.chinadtv.cn .

For investor and media inquiries, please contact:    In China:     Eric Yuan     China Digital TV     Tel:   +86-10-8279-0021     Email: [email protected]     Cynthia He     Brunswick Group LLC     Tel:   +86-10-6566-9504     Email: [email protected]    In the United States:     Kate Tellier     Brunswick Group LLC     Tel:   +1-212-7060-7879     Email: [email protected]
Source: PRNewsWireMore on STV:

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10-year financial history of STV.

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