OTTAWA, January 24, 2022 – C-COM Satellite Systems Inc., (TSXV: CMI and OTCQB: CYSNF) a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, today announced the payment of an eligible dividend in the amount of $0.0125 per common share payable on February 23, 2022, to all shareholders of record as of February 7, 2022. Based on the closing price of $2.12 per share on January 21, 2022, this dividend represents a yield of 2.4% on an annualized basis.
“We are pleased that we can continue to be able to reward our loyal shareholders with this quarterly dividend” said Leslie Klein, President and CEO of C-COM Satellite Systems Inc.
The C-COM iNetVu® mobile proprietary antennas, and services associated with these products, are used in mobile applications by corporations, government agencies, the military, law enforcement agencies, homeland security, utility vehicles, oil and gas platforms, police, fire, medical and other security and emergency services with a need for affordable mobile 2-way high-speed Internet over Satellite connectivity.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is a pioneer and world leader in the design, development, and manufacture of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 8,500 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company’s iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in late-stage development of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. In cooperation with the University of Waterloo, C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals. For additional information please visit www.c-comsat.com
The Company is publicly traded on the TSX Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. Statements about the future demand for C-COM’s products and the perception that demand is growing; C-COM’s ability to ship goods from inventory within certain time frames; fulfillment of orders received and the timing of delivery; and the development of new technologies, including timing, features, the potential market for such products and the potential benefits to customers and C-COM from the development of such products, all contain forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Deployment of units ordered may not be as expected by C-COM and the receipt of the orders may not be reflective of the state of the demand for C-COM’s products. Orders may take longer to ship than anticipated and orders may be cancelled for any number of reasons, some of which are beyond C-COM’s control. Anticipated benefits of the new technology may not be realized, and new products and services may not be released or, if released may not gain market acceptance. Any of those events and others could influence future performance and C-COM’s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the discussion of risk factors associated with C-COM’s business as set out in C-COM’s most recent management’s discussion and analysis available at www.SEDAR.com.
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