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Phoenix New Media Announces Special Cash Dividend of $1.3712/ADS

Phoenix New Media Limited (NYSE:FENG), a leading new media company in China ("Phoenix New Media", "ifeng" or the "Company"), today announced that its Board of Directors declared a special

· 11/19/2020 06:05

Phoenix New Media Limited (NYSE:FENG), a leading new media company in China ("Phoenix New Media", "ifeng" or the "Company"), today announced that its Board of Directors declared a special cash dividend of US$0.1714 per ordinary share, equivalent to US$1.3712 per American depositary share ("ADS"), totaling approximately US$100 million, payable on December 22, 2020 to holders of record of the Company's ordinary shares at the close of business on December 4, 2020 (the "Record Date").

JPMorgan Chase Bank, N.A., as depositary of the ADSs (the "Depositary"), is expected to pay a cash distribution of US$1.3512 per ADS to the Company's ADS holders of record at the close of business on the Record Date after receipt of cash dividends on the Company's ordinary shares and deduction of its fees and expenses. The Depositary expects to pay the cash distribution to the Company's ADS holders on December 22, 2020.

In connection with the declaration of special cash dividend, the Board of Directors also approved a special cash compensation to the Company's option holders in the aggregate amount of approximately US$8.98 million.