Focus Media (FMCN) Implements New Dividend Policy; Will Aim for 25% Payout

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FMCN Hot Sheet

Overall Analyst Rating:
BUY (= Flat)

EPS Growth %: +43.3%

Focus Media Holding Limited (Nasdaq: FMCN) today announced that the Company is implementing a policy starting from 2012 to issue a recurring dividend with payments expected to equal approximately 25% of its annual non-GAAP net income of the preceding fiscal year. The dividends will be paid out on a quarterly basis in the calendar year to shareholders of record as of March 31, June 30, September 30 and December 31 respectively. The dividend payments will commence in 2012 in respect of Focus Media's non-GAAP net income for 2011.

Starting from 2012, the Company will also reserve up to an additional 30% of its annual non-GAAP net income of the preceding fiscal year as funds that may be used, at the Company's discretion, to increase the dividend payment or the size of the Company's share repurchase program in effect at that time. The dividend and share repurchase fund policies will be reviewed by the board and management on an annual basis.

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