C-COM Announces Suspension of Quarterly Dividends to Prioritize Strategic Investments
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) has announced the immediate suspension of its quarterly dividend of $0.0125 per common share. This strategic decision aims to preserve cash and redirect resources toward critical projects, primarily the commercialization of its Ka-band Electronically Steered Antenna (ESA).
The company's R&D team, collaborating with the University of Waterloo, has successfully developed a breakthrough multi-orbit ESA Ka-band antenna system capable of operating with GEO, MEO, and LEO constellations. The antenna features a compact, scalable design suitable for various mobile applications including airborne inflight services, military drones, maritime vessels, and land vehicles.
C-COM plans to launch a 1K element ESA system in late 2025, followed by a 4K ESA in early 2026. The dividend suspension, following 50 quarters of consistent payments, reflects the company's commitment to maintaining financial flexibility for these strategic investments.
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) ha annunciato la sospensione immediata del suo dividendo trimestrale di $0,0125 per azione comune. Questa decisione strategica mira a preservare liquidità e reindirizzare le risorse verso progetti critici, principalmente la commercializzazione della sua antenna elettronica a fascio orientabile (ESA) a banda Ka.
Il team di R&D dell'azienda, in collaborazione con l'Università di Waterloo, ha sviluppato con successo un sistema innovativo di antenna ESA a banda Ka multi-orbitale capace di operare con costellazioni GEO, MEO e LEO. L'antenna presenta un design compatto e scalabile, adatto a varie applicazioni mobili, tra cui servizi aerei in volo, droni militari, imbarcazioni marittime e veicoli terrestri.
C-COM prevede di lanciare un sistema ESA con 1K elementi entro la fine del 2025, seguito da un sistema 4K ESA all'inizio del 2026. La sospensione del dividendo, dopo 50 trimestri di pagamenti costanti, riflette l'impegno dell'azienda a mantenere flessibilità finanziaria per questi investimenti strategici.
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) ha anunciado la suspensión inmediata de su dividendo trimestral de $0.0125 por acción ordinaria. Esta decisión estratégica tiene como objetivo preservar el efectivo y redirigir los recursos hacia proyectos críticos, principalmente la comercialización de su antena electrónica con haz dirigido (ESA) de banda Ka.
El equipo de I+D de la empresa, en colaboración con la Universidad de Waterloo, ha desarrollado con éxito un sistema innovador de antena ESA de banda Ka multi-orbita que puede operar con constelaciones GEO, MEO y LEO. La antena presenta un diseño compacto y escalable adecuado para diversas aplicaciones móviles, incluyendo servicios de vuelo en aviones, drones militares, embarcaciones marítimas y vehículos terrestres.
C-COM planea lanzar un sistema ESA de 1K elementos a finales de 2025, seguido de un ESA de 4K a principios de 2026. La suspensión del dividendo, luego de 50 trimestres de pagos constantes, refleja el compromiso de la empresa de mantener flexibilidad financiera para estas inversiones estratégicas.
C-COM 위성 시스템 (TSXV: CMI, OTCQB: CYSNF)는 즉각적으로 보통주 당 $0.0125의 분기 배당금을 중단한다고 발표했습니다. 이 전략적 결정은 현금을 보존하고 자원을 중요한 프로젝트, 주로 Ka-대역 전자적으로 조향되는 안테나(ESA)의 상용화로 재배치하는 것을 목표로 합니다.
회사의 연구개발팀은 워털루 대학교와 협력하여 GEO, MEO 및 LEO 별자리와 함께 작동할 수 있는 획기적인 다중 궤도 ESA Ka-대역 안테나 시스템을 성공적으로 개발했습니다. 이 안테나는 항공기 서비스, 군용 드론, 해양 선박 및 육상 차량을 포함하여 다양한 이동 애플리케이션에 적합한 컴팩트하고 확장 가능한 디자인을 특징으로 합니다.
C-COM은 2025년 말에 1K 요소 ESA 시스템을 출시할 계획이며, 2026년 초에는 4K ESA를 이어서 출시할 예정입니다. 50분기 연속 지급 이후의 배당금 중단은 이러한 전략적 투자를 위한 재정적 유연성을 유지하겠다는 회사의 의지를 반영합니다.
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) a annoncé la suspension immédiate de son dividende trimestriel de 0,0125 $ par action ordinaire. Cette décision stratégique vise à préserver des liquidités et à réorienter les ressources vers des projets critiques, principalement la commercialisation de son antenne à faisceau électronique orientable (ESA) en bande Ka.
L'équipe de R&D de l'entreprise, en collaboration avec l'Université de Waterloo, a réussi à développer un système innovant d'antenne ESA en bande Ka multi-orbitale capable de fonctionner avec des constellations GEO, MEO et LEO. L'antenne présente un design compact et évolutif, adapté à diverses applications mobiles, y compris les services aériens en vol, les drones militaires, les navires maritimes et les véhicules terrestres.
C-COM prévoit de lancer un système ESA avec 1K éléments fin 2025, suivi d'un 4K ESA début 2026. La suspension du dividende, après 50 trimestres de paiements constants, reflète l'engagement de l'entreprise à maintenir une flexibilité financière pour ces investissements stratégiques.
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) hat die sofortige Aussetzung seiner vierteljährlichen Dividende von $0,0125 je Stammaktie bekannt gegeben. Diese strategische Entscheidung zielt darauf ab, Bargeld zu sparen und Ressourcen auf kritische Projekte umzulenken, insbesondere die Kommerzialisierung seiner elektronisch gesteuerten Antenne (ESA) im Ka-Band.
Das F&E-Team des Unternehmens hat in Zusammenarbeit mit der University of Waterloo erfolgreich ein bahnbrechendes multi-orbital ESA Ka-Band-Antennensystem entwickelt, das mit GEO-, MEO- und LEO-Konstellationen arbeiten kann. Die Antenne zeichnet sich durch ein kompaktes, skalierbares Design aus, das für verschiedene mobile Anwendungen geeignet ist, darunter Luftdienstangebote, Militärdrohnen, Schiffe und Landfahrzeuge.
C-COM plant, Ende 2025 ein ESA-System mit 1K Elementen einzuführen, gefolgt von einem 4K ESA zu Beginn 2026. Die Aussetzung der Dividende, nach 50 Quartalen konsequenter Zahlungen, spiegelt das Bestreben des Unternehmens wider, finanzielle Flexibilität für diese strategischen Investitionen aufrechtzuerhalten.
- Successfully developed breakthrough multi-orbit ESA Ka-band antenna system
- Product launch timeline established: 1K ESA system in late 2025, 4K ESA in early 2026
- Company has considerable cash resources to fund R&D efforts
- Immediate suspension of quarterly dividend ($0.0125 per share)
- Significant R&D expenses expected for product development and launch
Ottawa, Ontario--(Newsfile Corp. - January 13, 2025) - C-COM Satellite Systems Inc., (TSXV: CMI) (OTCQB: CYSNF), a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced the suspension of its traditional quarterly dividend of
This decision reflects the company's proactive approach to ensuring long-term growth and enhancing shareholder value by focusing on key initiatives that strengthen C-COM's competitive position and future profitability.
"As I have reported in earlier releases, C-COM's R&D team based in Waterloo, Ontario and working with the University of Waterloo's renowned wireless/satellite research team and support labs, has successfully designed, manufactured and tested a breakthrough multi-orbit ESA Ka-band antenna system offering a range of benefits, including full in motion capability on GEO, MEO and LEO constellations.", said Dr. Leslie Klein, President and CEO of C-COM Satellite Systems Inc.
Klein added "The antenna's design is compact, scalable and readily configurable for any number of use cases, making it ideal for mobile applications such as airborne inflight services, military drone applications, maritime vessels and land vehicles. Our plan is to bring a compact 1K element ESA system to market in late 2025, followed by the launch of a more robust 4K ESA in early 2026."
Dr. Klein concluded: "The primary focus of C-COM over the next couple of years is to bring these leading-edge antenna systems to market and make it possible to also fund a few other significant R&D developments which are in the last stages of completion. We already have considerable cash resources to fund these efforts. Our decision to temporarily suspend the dividend was not made lightly, given our long track record of such payments over the past 50 quarters. While I understand the importance of dividends to our shareholders, I believe this step is necessary to maintain financial flexibility and invest in projects that will deliver significant returns over time. This approach aligns with our mission to build a stronger and more resilient company. I regard prioritizing our working capital to bring this advanced technology ESA to market as a testament of how significant the C-COM team believes the impact our ESA's will have in the marketplace."
About C-COM Satellite Systems Inc.
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C-COM Satellite Systems Inc. is a pioneer and a leading global designer, developer, and manufacturer of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 11,000 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company's iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in final stages of satellite testing and manufacturing of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. C-COM has developed this unique multi-orbit antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals over LEO, MEO and GEO satellite constellations. Another significant project underway at C-COM is the development of an Analog Beamforming Integrated Circuit, which is progressing well and is expected to enter testing phase by the middle of this year. These BFICs will be used in the manufacturing of all of our ESA antennas with the intent to significantly reduce their cost and improve their performance.
For additional information please visit www.c-comsat.com
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
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INVESTOR RELATIONS
C-COM Satellite Systems Inc.
Tel: (613) 745-4110 ext. 4950
Fax: (613) 745-7144
lklein@c-comsat.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Statements about C-COM's expectations for future results, its intention to bring a compact 1K element ESA system to market in late 2025 followed by the launch of a more robust 4K ESA in early 2026, its primary focus over the next couple years and the expectation that investment in R&D will generate returns to the company all contain forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Product development and launch may be postponed, delayed or, in the worst case, cancelled for many reasons outside C-COM's control, anticipated benefits of the new technology may not be realized, new products and services may not be released or, if released may not gain market acceptance and factors outside of C-COM's control may cause it to focus of its efforts and investments differently than described above. Any of those events and others could influence future performance and C-COM Satellite Systems Inc.'s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company's most recent MD&A available at www.sedarplus.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236901
FAQ
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