Vecima Increases Quarterly Dividend by 22%
VICTORIA – (September 24, 2015) – Vecima Networks Inc. (TSX:VCM), an experienced designer and manufacturer of innovative technology in the broadband equipment market, announced today that the Board of Directors has approved an increase in its quarterly dividend from $0.045 to $0.055 per common share. This represents a 22% increase from the prior dividend policy. The dividend is payable on October 30, 2015 to shareholders of record on October 9, 2015.
Commenting on the announcement, Vecima’s President and CEO Sumit Kumar said, “The dividend increase reflects our strong performance and confidence in our plan going forward. We are delighted to be rewarding our investors and look forward to continuing to increase shareholder value in fiscal 2016.”
This dividend will not be designated as an “eligible dividend” for Canadian income tax purposes. Future quarterly dividends will be subject to Board approval.
About Vecima Networks
Vecima Networks Inc. (TSX:VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima’s hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima’s solutions to deliver services to a converging worldwide broadband market, including what are commonly known as “triple play” (voice, video and data) and “quadruple play” (voice, video, data and wireless) services. Vecima’s solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as “the last mile”, by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima’s products are directed at two principal markets: Converged Wired Solutions and Broadband Wireless. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fibre to the home and IP video. More information is available at our website at www.vecima.com.
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