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$2 per share dividend on a $3 stock? I'm in!
GigaMedia Announces Record Date and Distribution Date For Return of Capital to Shareholders
TAIPEI, Taiwan, March 5 /PRNewswire-FirstCall/ --
GigaMedia Limited ("GigaMedia") (Nasdaq: GIGM, www.giga.net.tw), a leading multi-technology provider in Taiwan of broadband Internet access services and broadband content for Chinese markets, announced today that the company has
established March 15, 2002 as the record date for the return of capital of US$2.00 per share to shareholders, and March 29, 2002 as the distribution date.
The return of capital was approved at the company's special shareholder meeting held on January 17, 2002 in Singapore and has subsequently received approval from the Singapore High Court.
The first broadband ISP in Taiwan, GigaMedia is today one of Taiwan's leading providers of broadband Internet access services and broadband content for Chinese markets. The company's access products consist of premium cable modem and ADSL offerings, giving the company the ability to deliver superior broadband connections island-wide.
GigaMedia's cable modem is a world-class platform developed in conjunction with Microsoft, and is capable of delivering broadband Internet access speeds of up to 100 times faster than traditional
dial-up services. The company's premium ADSL is likewise distinguished in the market by its high performance characteristics and value-added features.
With 29 cable system partners, the company's core cable modem business passes more than 3.8 million Taiwan households, as well as 576,000 small and medium businesses. In addition, the company offers multiple interactive Chinese- language multimedia Web sites through its Web destination
Strategic investors of GigaMedia include Microsoft, the world's leading software provider, and the Koos Group, a major player in Taiwan's manufacturing, finance, telecommunications, media, and cable industries. More information on GigaMedia can be obtained from ir.giga.net.tw.
The statements included above and elsewhere in this press release that are
not historical in nature are "forward-looking statements" within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. GigaMedia cautions readers that forward-looking statements are
based on the company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those contained in
such forward-looking statements. Information as to those factors that could
cause actual results to vary can be found in GigaMedia's Registration
Statement on Form 20-F filed with the United States Securities and Exchange
Commission in June 2001.
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