Acorn International Suspends Quarterly Dividend Policy Indefinitely; Takes Defensive Measures Given Potential for Coronavirus Outbreak to Materially Impact its E-Commerce Business
ACORN INTL (ATV)
US:NYSE Investor Relations:
acorninternationalir.com/home/category/press-release
Company Research
Source: PR Newswire
SHANGHAI, March 2, 2020 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), announced that at its regularly scheduled meeting in February, 2020, the Company's board of directors voted to indefinitely suspend its quarterly dividend of US$0.0125 per ordinary share, or US$0.25 per ADS, due to current business impact and uncertainties concerning the potential longer-term impact of the 2019 novel coronavirus (COVID-19) outbreak on the Company's e-commerce business.Discovered in Wuhan, China in December 2019, COVID-19 causes severe respiratory illness in humans. While it has begun to spread throughout the world, the vast majority of coronavirus cases are in mainland China, with over 78,000 diagnosed cases and over 2,700 deaths, based on the latest statistics from the World Health Organization as of the date of this release. Actions by the Chinese government to curtail the spread of the virus include limiting the transportation of people and goods within and out
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