Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), a growing media company with online video on-demand networks that provides positive and entertaining video content for all screens, today announced that its Board of Directors has declared a one-time, special dividend in the amount of $0.45 per share on its common stock, to be paid on August 10, 2018 to the stockholders of record as of the close of business on August 6, 2018.

 "As we approach the first anniversary of our IPO, we decided to look at ways we could enhance the return to our shareholders," said William J. Rouhana, Jr., chairman and chief executive officer. "We believe that our stock buyback program has been helpful in this effort but due to volume and price limitations we have not been able to buy shares at the pace we had hoped." As of July 24, 2018, the company has repurchased 74,235 shares of common stock since the $5 million program was authorized on March 27, 2018.

"With most of the amount we allocated to the buyback still available, we decided to return this capital to our existing shareholders in the form of a special dividend that approximates the authorization remaining under our share repurchase program," continued Rouhana.

"Our balance sheet remains strong, our business plan is on track, our Popcornflix AVOD business continues to create substantial value and we have ample access to non-dilutive capital should a need arise as we pursue new growth opportunities," Scott W. Seaton, vice chairman said. "We have been pleased in our discussions with possible acquisition targets to learn that they are very interested in our Series A Preferred shares as acquisition currency. Using the Series A Preferred shares will free up capital that we had planned to use for these acquisitions."

"We will continue to regularly review ways to increase near-term shareholder value as we simultaneously implement our long-term business plan," said Rouhana.