Television Company Belo Corp. (BLC) Declares Second Quarter Dividend; Suspends Future Dividends Indefinitely
March 03 2009 - 12:08PM
PR Newswire (US)
DALLAS, March 3 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC),
one of the nation's largest pure-play, publicly-traded television
companies, announced today that its Board of Directors declared a
cash dividend of $0.075 for each outstanding share of Series A
common stock and Series B common stock to be paid on June 5, 2009
to shareholders of record on May 15, 2009. Belo also announced that
it is suspending its dividend indefinitely following the June 5,
2009 payment. "In light of current economic conditions, suspending
the dividend will allow Belo's management team to continue to focus
on paying down debt and preserving cash while enhancing the
Company's financial flexibility," said Dunia A. Shive, Belo's
president and Chief Executive Officer. About Belo Corp. Belo Corp.
(BLC) is one of the nation's largest pure-play, publicly-traded
television companies, with 2008 annual revenue of $733 million. The
Company owns and operates 20 television stations (nine in the top
25 markets) and their associated Web sites. Belo stations, which
include affiliations with ABC, CBS, NBC, FOX, CW and MyNetwork TV,
reach more than 14 percent of U.S. television households in 15
highly-attractive markets. Nearly all Belo stations rank first or
second in their local market. Additional information is available
at http://www.belo.com/ or by contacting Paul Fry, vice
president/Investor Relations & Corporate Communications, at
214-977-6835. DATASOURCE: Belo Corp. CONTACT: Paul Fry, vice
president, Investor Relations & Corporate Communications of
Belo Corp., +1-214-977-6835 Web Site: http://www.belo.com/
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