Stingray declares quarterly dividend to shareholders

MONTREAL, QUEBEC -Stingray Digital Inc. (TSX: RAY.A) (“Stingray” or the “Company”), a leading multi-platform business-to-business music and in-store multimedia solution, announced today That its Board of Directors declared a quarterly dividend of $ 0.045 per Subordinate Voting Share per Variable Subordinate Voting Share per Multiple Voting Share to be payable on June 15, 2017 to the holders of Shares Subordinate Voting Shares, Variable Subordinate Voting Shares and Multiple Voting Rights, as recorded at the close of business on May 31, 2017.

The Company’s dividend policy is subject to the discretion of the Board of Directors and may vary depending on, among other things, our free cash flow, results of operations, financial condition, Offer to the company and other factors that the board of directors deems relevant.

Dividends paid may be considered “eligible” for the purposes of the Income Tax Act (Canada) and any corresponding provisions of the provincial or territorial tax legislation.

About Stingray

Stingray (TSX: RAY.A) (TSX: RAY.B) is a leading provider of cross-platform multi-platform music services and business-to-business multi-media solutions that operate worldwide. It reaches approximately 400 million pay television subscribers (or households) in 156 countries. Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Video, Stingray Lite TV, Stingray Ambiance, Stingray Karaoke, Festival 4K and Classica. Stingray also offers a variety of business solutions, including music and digital signage products through its Stingray Business division. Stingray is headquartered in Montreal and currently has close to 350 employees worldwide, including the United States, the United Kingdom, the Netherlands, France, Israel, Australia, South Korea and Singapore . Stingray was a finalist in Deloitte’s Technology Fast 50 � in 2013 and 2014 and was named one of the fastest growing Canadian companies by PROFIT magazine. In 2016, Stingray won the top honors in the “Best Investor Relations in an Initial Public Offering” category at the IR Magazine Canada Awards ceremony. For more information, visit www.stingray.com . Israel, Australia, South Korea and Singapore. Stingray was a finalist in Deloitte’s Technology Fast 50 � in 2013 and 2014 and was named one of the fastest growing Canadian companies by PROFIT magazine. In 2016, Stingray won the top honors in the “Best Investor Relations in an Initial Public Offering” category at the IR Magazine Canada Awards ceremony. For more information, visit www.stingray.com . Israel, Australia, South Korea and Singapore. Stingray was a finalist in Deloitte’s Technology Fast 50 � in 2013 and 2014 and was named one of the fastest growing Canadian companies by PROFIT magazine. In 2016, Stingray won the top honors in the “Best Investor Relations in an Initial Public Offering” category at the IR Magazine Canada Awards ceremony. For more information, visit www.stingray.com . Stingray won top honors in the “Best Investor Relations at an Initial Public Offering” at the IR Magazine Canada Awards Ceremony. For more information, please visit www.stingray.com . Stingray won top honors in the “Best Investor Relations at an Initial Public Offering” at the IR Magazine Canada Awards Ceremony.

Source: Stingray Digital Inc.