Acorn International Announces Quarterly Dividend, to Report Second Quarter 2019 Earnings on September 16, 2019
SHANGHAI, China, September 10, 2019 – Acorn International, Inc. (NYSE: ATV) (“Acorn” or the “Company”) today announced that on August 28, 2019, its board of directors declared a cash dividend for the second quarter of 2019 of US$0.0125 per ordinary share, or approximately US$0.25 per American depositary share (“ADS”), each of which represents twenty ordinary shares.
Record holders of the Company’s ordinary shares at the close of business US Eastern Time on September 20, 2019 (the “Record Date”) will be entitled to receive the cash dividend for the second quarter of 2019. The Company expects Citibank N.A., the depositary bank for Acorn’s ADS program, to distribute dividends to ADS holders as of the Record Date on or about September 27, 2019. Dividends to be paid to the Company’s ADS holders through the ADS Depositary will be subject to the terms of the deposit agreement by and among the Company and the ADS Depositary, and the holders and beneficial owners of ADS issued thereunder, including the fees and expenses payable thereunder.
The Company will release financial results for the second quarter of 2019 before the market opens on Monday, September 16, 2019. The Company will hold a conference call to discuss the financial results for investors at 8:30 AM ET on that same day. Mr. Jacob A. Fisch, President and CEO of Acorn, and Mr. Martin Key, Acting CFO of Acorn, will lead the call. Following the presentation, there will be a brief question and answer segment for investors and analysts. Dial-in details for the earnings conference call are as follows:
International: +1 856-344-9299
Please dial in 10 minutes before the call is scheduled to begin and provide the passcode 6331584 to join the call. A replay will be available approximately two hours following the conclusion of the conference call through September 11, 2019 and can be accessed by dialing (888) 203-1112, or (719) 457-0820, passcode 6331584. An archived audio file of the call will be available on the Company’s website http://www.acorninternationalgroup.com/news-and-events/webcasts-and-presentations/.
About Acorn International, Inc.
Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. For more information visit www.acorninternationalgroup.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipates,” “believes,” “estimates,” “expects,” “future,” “going forward,” “intends,” “outlook,” “plans,” “target,” “will,” “potential,” and similar statements. Such statements are based on management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance, actions, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Compass Investor Relations
Elaine Ketchmere, CFA