CanWest Declares Dividend.WINNIPEG, Manitoba--(BUSINESS WIRE)--Sept. 11, 1997--The board of directors of CanWest Global Communications CanWest Global Communications Corp. TSX: CGS TSX: CGS.A NYSE: CWG is one of Canada's largest international media companies. The company's head office is situated in Winnipeg, Manitoba, at the tallest building (CanWest Global Place) in the city and it is on the Corp. (NYSE NYSE See: New York Stock Exchange :CWG CWG Conversations with God CWG Core Working Group CWG Certification Working Group (WiMAX Forum) CWG Collaboration Working Group CWG Commercial Working Group (TAT-14) ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CGS CGS centimeter-gram-second system. CGS or cgs abbr. centimeter-gram-second system. CGS, c.g.s. .S CGS) Thursday declared a semi-annual cash dividend of 12.5c per share on all of the issued and outstanding Multiple Voting Shares, Subordinate Voting Shares and Non-Voting Shares of the company. The dividend is payable by the company on Oct. 15, 1997 to shareholders of record as of the close of business on Sept. 30, 1997. This represents the second cash dividend paid by CanWest this year. On March 13, 1997, the board of directors declared a cash dividend in the aggregate amount of 12.5c per share, a 150% increase over the previous semi-annual dividend of 5c per share. "Today's announcement reflects the ongoing growth in company earnings and continued strength of our stock," said John Maguire, vice-president Finance and chief financial officer. "As such, we are pleased to be able to share with our stockholders the exceptional growth the company is enjoying." Under the terms of the corporation's Dividend Reinvestment Plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. , all shareholders have the right to apply their dividends to purchase subordinate voting shares or non-voting shares from the corporation's treasury at a price equal to 95% of the weighted average of the closing prices for the shares on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. on each of the five trading days immediately preceding the dividend payment date. Shareholders may request a copy of the Dividend Reinvestment Plan from the Dividend Reinvestment Department of Montreal Trust Co. of Canada, 200 Portage Avenue, Mezzanine Level, Winnipeg, MB. R3C 3X2. Shareholders must make their election to take shares by Oct. 7, 1997, otherwise their dividends will be payable in cash. CanWest Global Communications Corp. (NYSE:CWG and TSE:CGS.S and CGS.) is a leading international television broadcaster. In Canada, the company owns and operates the Global Television Network. Internationally, the company owns substantial economic interests in Australia's Network TEN and New Zealand's TV3, TV4 and MORE FM. CONTACT: CanWest Global Communications Corp. John Maquire, 204/956-2925, 204/947-9841 (FAX) |
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