CanWest Global raises dividend 50 percent.WINNIPEG, Manitoba--(BUSINESS WIRE)--Sept. 14, 1995--CanWest Global (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , Winnipeg Stock Exchange: CWW CWW Compressed Work Week CWW City West Water (Australia) CWW Church Without Walls (various religious organizations) CWW Columbus Water Works (Columbus, Georgia, USA) ) Thursday 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. announced a 50 percent increase in dividends to shareholders. At a meeting of the Board of Directors held September 14, 1995, the directors declared a semi-annual dividend of $0.15 per share payable October 16, 1995 to shareholders of record on September 28, 1995. The increase, from $0.20 to $0.30 per share on an annual basis, represents the second dividend increase in 1995. The previous increase occurred in April following the two-for-one stock split approved by shareholders at the Annual General Meeting in January. At that time, the semi-annual dividend was increased from $0.075 to $0.10 or$0.15 to $0.20 on an annual basis. CanWest Global's Chairman and Chief Executive Officer, Israel Asper, O.C., Q.C., stated: "Our initial public offering was made four years ago in October 1991 with the share price set at $12.25. The annual dividend first set in 1992 at $0.10 per share ($0.20 pre-split) was increased in 1993 to $0.15 per share ($0.30 pre- pre- word element [L.], before (in time or space). pre- pref. 1. Earlier; before; prior to: prenatal. 2. split). In April 1995, the dividend was further increased to $0.20 per share ($0.40 pre-split). "The new annual dividend rate of $0.30 per share ($0.60 pre-split) is triple the original rate, reflecting the significant growth in company earnings and the approximate quadrupling quad·ru·ple adj. 1. Consisting of four parts or members. 2. Four times as much in size, strength, number, or amount. 3. Music Having four beats to the measure. n. in the stock market valuation of CanWest Global shares," Mr. Asper added. Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs C. Strike, CanWest Global's Executive Vice President, Business Development and Chief Financial Officer, said, "The increase in our dividend rate reflects a corporate policy to pay our shareholders a regular distribution of excess cash flow amounting to approximately 1 percent to 1 1/2 percent of the trading value of our shares." CanWest Global recently announced the year end results of Network Ten in Australia. CanWest's interests in the earnings of Network Ten increased 34.2 percent for its year ended June 30, 1995. In addition, Network Ten recently declared a dividend in the aggregate amount of A$22.75 million, of which CanWest Global received A$3.4 million. The dividend payment triggered an interest obligation in respect of the subordinate participating debentures of Network Ten held by CanWest Global in the aggregate amount of A$23.3 million, net of Australian withholding taxes The amount legally deducted from an employee's wages or salary by the employer, who uses it to prepay the charges imposed by the government on the employee's yearly earnings. . CanWest Global operates the CanWest Global System in Canada and has significant broadcast interests internationally. CONTACT: I.H. Asper, O.C., Q.C. Chairman and Chief Executive Officer or Thomas C. Strike, 204/956-2025 Executive Vice President, Business Development and Chief Financial Officer REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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