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TORONTO, July 29, 2021 (GLOBE NEWSWIRE) -- ZoomerMedia Limited (TSXV:ZUM) (the “Company”), the leader in speaking to and for the 45+ “Zoomer” market in Canada, today announces that its Board of Directors has declared a dividend of $0.0025 on each common and preferred share outstanding, payable on September 2, 2021 to shareholders of record at the close of business on August 18, 2021.
The Company hereby advises that this dividend is designated as an "eligible dividend" as defined by the Income Tax Act (Canada) and any similar provincial or territorial legislation.
"We met the many challenges of the last 18 months - a period characterized by sharp contractions in revenue, experienced especially by our radio, print + shows + conferences divisions - by judicious cost cutting + deferrals + essential, much appreciated, assistance from the Federal Government, every penny of which was spent to support continued employment of all staff. Accordingly, we are proud to say that there have been no layoffs at ZML; not a single one!
Now, with a semblance of normal in view + business prospects brightening; with staff fully preserved + with the end of the CEWS only 2 months away; it’s finally time to recognize the patience, loyalty and confidence of shareholders.
This dividend was to have been paid for fiscal 19/20, but was delayed due to uncertainties related to Covid19. Going forward it is the company's intention to continue to pay a dividend every year from now on,” said Moses Znaimer, Founder, President and CEO of ZoomerMedia Limited.
About ZoomerMedia Limited
ZoomerMedia is a multimedia company that serves the 45plus “Zoomer” demographic through television, radio, magazine, internet and trade shows. ZoomerMedia’s television properties include; Vision TV, Canada’s only multi-faith specialty television service; ONE: Get Fit, offering programs on exercise, meditation, yoga, natural health and living a planet-friendly lifestyle; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, FAITH TV, a lifestyle television service out of Winnipeg devoted to broadcasting Christian programming and is available in approximately 6 million Canadian homes, and TVL Channel 5, a linear television channel guide available to Rogers households in Ontario and New Brunswick. ZoomerMedia’s radio properties include CFMZ-FM Toronto – The New Classical 96.3FM, CFMX-FM Cobourg – The New Classical 103.1FM, CFMO-FM – Collingwood – The New Classical 102.9FM, Canada’s only commercial classical music radio stations serving the Greater Toronto Area (GTA), eastern Ontario and Collingwood, CFZM-AM 740 Toronto and CFZM-FM 96.7FM Toronto – Zoomer Radio, Toronto’s “Timeless Hits” Station. ZoomerMedia also publishes ZOOMER Magazine, the largest paid circulation magazine in Canada for the mature market, as well as On The Bay Magazine, a regional lifestyle magazine published quarterly for the 20 towns and villages of Southern Georgian Bay, Ontario. ZoomerMedia is Canada’s leading provider of online content targeting the 45plus age group through many properties, the key one being www.EverythingZoomer.com. ZoomerMedia has trade show and conference divisions that produce the ZoomerShows, annual consumer shows directed to the Zoomer demographic and ideaCity, an annual Canadian conference also known as 'Canada's Premiere Meeting of the Minds'.
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