OTTAWA, January 20, 2023 – 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 17, 2023, to all shareholders of record as of February 3, 2023. Based on the closing price of $1.28 per share on January 19, 2023, this dividend represents a yield of 3.91% 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 10,000 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
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
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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 C-COM’s expectations as to its performance after the COVID-pandemic and its intentions with respect to its Ka-band antenna version 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. The COVID pandemic may last longer than expected or C-COM’s preparations may not translate into expected performance for any number of reasons, some of which are beyond C-COM Satellite Systems’ 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 Satellite Systems Inc.’s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company’s most recent MD&A available at www.SEDAR.com.