Canwest Global declares dividend.WINNIPEG, MANITOBA--(BUSINESS WIRE)--Sept. 12, 1996-- CANWEST GLOBAL COMMU COMMU Communications Unit (NYSE NYSE
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CGS, c.g.s. .S CGS.A ) 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. today declared a semi-annual cash dividend of $0.05 per share on all of the issued and outstanding multiple voting shares, subordinate voting shares Voting Shares
Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors.
Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. and non-voting shares of the corporation.
The dividend is payable by the company on Oct. 15, 1996, to shareholders of record on Sept. 30, 1996.
This represents the second cash dividend paid by the company in 1996. On Feb. 23, prior to its 3-for-1 stock split, the board declared a cash dividend in the aggregate amount of $0.15 per share.
Commenting on the dividend declaration, CanWest Chairman and Chief Executive Officer I.H. Asper, O.C., Q.C., said: "Today's announcement reflects the ongoing growth in company earnings and the continued strength of our stock. We are pleased that our shareholders are able to partake in this growth."
CanWest yesterday announced the year-end results of Network Ten in Australia. In addition to outstanding financial results in all sectors, Network Ten will also make dividend and subordinate interest distributions in December 1996 in the aggregate amount of approximately A$90.1 million, of which CanWest will receive approximately A$51.8 million.
CanWest Global Communications Corp. (NYSE:CWG and TSE - CGS.S and CGS.A) is a leading international television broadcaster with interests in broadcasting properties in Canada, Australia and New Zealand. In Canada, the company owns and operates the CanWest Global System, Canada's largest independent broadcaster which currently comprises a group of seven independent television stations and reaches approximately 16.4 million people -- 72 percent of Canada's English-speaking population.
The company also owns a 57.5 percent economic interest (including a 15 percent voting interest) in Network Ten, one of Australia's three private national broadcast networks, and a 20 percent voting interest in TV3, New Zealand's only privately owned national broadcast television network. Through these broadcasting operations, CanWest reaches approximately 35.8 million English-speaking people in markets that are estimated to have generated approximately $4.4 billion in television advertising expenditures in 1995.
CONTACT: CanWest Global Communications Corp.
John Maguire, 204/956-2025