COM DEV Initiates Quarterly Dividend
COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced a dividend of $0.03 per common share with respect to the second quarter of fiscal 2014, in accordance with its previously announced intentions.
– Dividend Per Common Share: C$0.03
– Ex-Dividend Date: June 11, 2014
– Record Date: June 13, 2014
– Payable Date: June 27, 2014
“With the sustained strong performance of our equipment segment, combined with the continued positive growth from exactEarth, the Board and executive management agreed that this is the appropriate time to initiate a dividend,” said Terry Reidel, Chairman of COM DEV International Ltd.
“We are pleased at our ability to provide a return to shareholders through a quarterly dividend,” added Michael Pley, Chief Executive Officer. “We are confident in our ability to support a dividend while maintaining a focus on growth – both organically and through acquisitions.”
About COM DEV
COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. The company has a staff of 1,200, annual revenues of $216 million, and facilities in Canada, the United Kingdom and the United States. COM DEV designs manufactures, and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. The company has won contracts to supply its equipment on over 900 spacecraft. COM DEV’s majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.
