China's Acorn Int'l sets one-time cash dividend

AP News
Posted: Dec 21, 2009 9:10 AM

Chinese marketing company Acorn International Inc. said Monday its board approved a one-time cash dividend of 33 cents per ordinary share.

One of Acorn's U.S.-traded shares is equal to three ordinary shares. Holders of American Depositary shares will get a one-time payout of 99 cents.

The company said the dividend will likely be paid Jan. 20 to shareholders of record Dec. 31.

"We will return a total of approximately $29.3 million in special dividends to our shareholders," said CEO James Hu in a statement, thanks to gains on investments, stability in operations and a strong cash balance.