Digital Utilities Ventures’ Board Votes To Declare 5 Percent Stock Dividend
New York– October 26, 2009
Digital Utilities Ventures, Inc (Symbol: DUTV),an innovator in over the IP video transport systems with its breakthrough New Last Mile Platform, announced today that its Board of Directors has approved the payment of the stock dividend on its common stock issued as restricted and to be payable to stockholders of record as of November 30th, 2009.
Garry McHenry, the President of DUTV, stated: “The Company is structuring itself for a new fiscal year, which will see Digital Utilities Ventures develop its ability to transport video and further enhance carrier networks. A stock dividend is the best method to enhance shareholder value and is the Company's means of rewarding those shareholders who have loyally supported the Company’s efforts.
“We will continue working together to deliver the difference - in innovation, growth in earnings and return on capital. The pace of change in the IPTV industry has been swift and the challenges have been demanding. In this kind of competitive world, rapid market penetration must be central to DUTV’s growth strategy. Accordingly, the Company’s goal continues to be to enter all the IPTV International markets in the next twelve months.
“To achieve this goal, our international expansion strategy is to establish alliances with major Telecom, Cable, Satellite and Content Providers from around the world, where we provide the expansion platform via our breakthrough Internet to TV Delivery System, while relying on our Allies’ marketing muscle to promote and sell the “New Last Mile” service enhancements to both prospective and existing subscribers. We are currently in talks with key players to implement this program”. Digital Utilities Ventures is in a maturing stage with dedicated and experienced management and clear investment policies. The outlook for the future is extremely bright."
About Digital Utilities Ventures, Inc (Pink Sheet: DUTV) – Digital Utilities Ventures is an intellectual property company and advanced technology incubator. The Company was formed to manufacture and market its innovative, Internet to TV and Cell Phone Communications System for the domestic and international Quad-Play/Convergence services industries. Called The New Last Mile, it uses an Internet based platform to deliver its TV programming. This means that DUTV can deliver live programming of broadcast quality from anywhere in the world over the Internet directly:
- To TV sets without the aid of computers (IP ready) by simply piggybacking on existing broadband connections
- To cell phones worldwide via WIFI, Mobile Telephone Switching Office (MTSO) 3G networks, and the emerging next generation 4G WiMAX
All using under 1 megabit of the Internet as the backbone to the television set and 150 kilobits to the cell phone In effect, creating the first global “Virtual Cable Television Network™”.
For further information contact:
Digital Utilities Ventures, Inc
Phone: (561) 424-1965
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In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.