28th Mar 2014 07:02
28 March 2014
Digital Globe Services, Ltd.
(the "Company," "the Group" and together with its subsidiaries "DGS")
Interim Dividend
Digital Globe Services, Ltd. (AIM: DGS), a leading provider of online customer acquisition solutions for large, consumer-facing organisations, is pleased to announce its interim dividend.
As announced at the time of interim results on 19 March 2014, DGS continues to produce strong cash flow from operations and, following a period of significant investment in the business and payment of the upfront consideration for the Edu business acquired in November 2013, the Group had a cash balance of $2.8 million as of 31 December 2013.
Following careful consideration of recurring cash flow from operations, the Board is pleased to announce that is has approved an interim dividend payment of US$1.7 million to those shareholders on the register as at the record date below.
The interim dividend is equivalent to approximately 6.2 US cents per dividend ranking share as at the last practicable date prior to this announcement (27 March 2014), being 27,471,531 common shares and excluding the 2,454,941 common shares currently held in the ESOP Trust, which do not rank for dividend until options are exercised.
The dividend timetable is as follows:
Ex-dividend date 9 April 2014
Record date 11 April 2014
Payment date 1 May 2014
The number of shares which rank for dividend at the record date will be reconfirmed if changed by the record date.
This interim dividend payment is in line with the Company's dividend policy to endeavour to pay dividends twice annually reflecting the Company's cash generation and subject to the Company bye-laws, business requirements and appropriate reserves accounting for investment in the Company's growth.
DGS has separately announced today a new short-term working capital facility which provides the Group with additional resources for capital investment should funding requirements arise in support of the Group's strategic growth initiatives.
For further information please contact:
Digital Globe Services, Ltd. | www.dgsworld.com |
Jeff Cox, CEO | +1 303 736 2105 |
Sandra Rodger, CFO | |
N+1 Singer | |
Shaun Dobson / Aubrey Powell / Matt Thomas | +44 20 7496 3000 |
Newgate Threadneedle | +44 20 7653 9850 |
Hilary Millar / Caroline Forde / Josh Royston / Jasper Randall | |
Overview of DGS
Founded in 2008 with offices in London, Bermuda, Netherlands, USA and Ireland, DGS is a specialist provider of outsourced online customer acquisition solutions for large, consumer-facing corporations. DGS delivers customers to its clients through optimised paid search, integrated websites and contact centre support, receiving a fee for each customer acquired for its clients.
DGS is seeking to establish itself as the leading international provider of outsourced online customer acquisition services, through its focus on having the premier technology platform for pricing and procuring paid search advertising on a cost effective basis. Paid search refers to the auction process for key search terms that search providers run and in which prospective advertisers, or their agents, compete in order to have their advertising or search results displayed.
By using its optimising technology platform, dgSMART, and its experience of website management, efficient contact centre operations and other process expertise, DGS is able to bid appropriately and cost effectively for search terms in order to achieve conversion rates that deliver profitable, high quality customers to its clients.
DGS employs over 600 staff in Europe, North America and Asia. The Company currently has over 30 direct and indirect client relationships globally, many of which are with companies in the US Fortune 500. In 2012, DGS commenced operations in Canada and Mexico and, in February 2013, its shares were admitted to trading on AIM, raising additional funds in order to support further growth opportunities in Latin America, Europe and Asia Pacific. In November 2013 DGS acquired the education business unit of a San Francisco based online customer acquisition company and began serving educational institutions via a sector focused business unit, DGS Edu. DGS has also recently started providing its customer acquisition services to the home automation and renewable energy sector, and is examining additional opportunities in the insurance, retail banking, utility and consumer technology sectors.
Related Shares:
DGS.L