ATA Declares Cash Dividend of $0.41 per ADS
June 01 2017 - 4:06PM
ATA Inc. ("ATA" or the "Company") (Nasdaq:ATAI), a
leading provider of advanced testing technologies and
testing-related services in China, today announced that its Board
of Directors has declared a cash dividend of US$0.205 per common
share, or US$0.41 per American Depositary Share (ADS).
The total amount of cash distributed in the
dividend is expected to be approximately US$10.0 million. The
dividend will be paid on or around June 30, 2017, to all
shareholders of record as of the close of business on June 12,
2017.
The number of weighted average ADSs used to
calculate both basic and diluted earnings per ADS for the quarter
ended March 31, 2017, and for the fiscal year ended March 31, 2017,
were 22.9 million. Each ADS represents two common shares.
Mr. Kevin Ma, ATA's Chairman and Chief Executive Officer,
stated, “We feel that this dividend is a strong indicator of our
ability to produce free cash flow and are pleased to return capital
to our loyal shareholders.”
As of March 31, 2017, the Company had US$32.3
million in cash and cash equivalents on a consolidated basis.
About ATA Inc.
ATA is a leading provider of advanced testing
technologies in China. The Company offers comprehensive services
for the creation and delivery of assessments based on its
proprietary testing technologies and test delivery platform. ATA’s
testing technologies are used for professional licensure and
certification tests in various industries, including information
technology services, banking, teaching, asset management,
insurance, and accounting. As of March 31, 2017, ATA's test center
network comprised 3,147 authorized test centers located throughout
China. The Company believes that it has the largest test center
network of any commercial testing service provider in China.
ATA has delivered more than 88.4 million
billable tests since ATA started operations in 1999. For more
information, please visit ATA’s website at www.atai.net.cn.
Cautionary Note Regarding Forward-looking
Statements
This announcement contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the Private Securities
Litigation Reform Act of 1995.
These forward-looking statements can be
identified by terms such as "anticipate", "believe", "could",
"estimate", "expect", "forecast", "future", "intend", "look forward
to", "outlook", "plan", "should", "will", and similar terms and
include, among other things, the Company's expectations about its
future performance.
For more information on our company, please contact the following individuals:
At the Company
ATA Inc.
Amy Tung, Chief Financial Officer
+86 10 6518 1122 x5518
amytung@atai.net.cn
Investor Relations
The Equity Group Inc.
Carolyne Y. Sohn, Senior Associate
415-568-2255
csohn@equityny.com
Katherine Yao, Senior Associate
+86 10 6587 6435
kyao@equityny.com
Adam Prior, Senior Vice President
212-836-9606
aprior@equityny.com
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