DALLAS, April 27, 2011 /PRNewswire/ -- 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 quarterly cash dividend for the third quarter 2011 of
$0.05 for each outstanding share of
Series A stock and Series B stock to be paid September 2, 2011, to shareholders of record on
August 12, 2011.
Belo suspended its dividend during the recession in the second
quarter of 2009 to preserve cash and focus primarily on debt
reduction. Since the suspension of the dividend, the Company
has reduced its debt by approximately $180
million and lowered its total leverage ratio from 5.3 times
at June 30, 2009, to 3.6 times at
March 31, 2011.
About Belo Corp.
Belo Corp. (BLC), one of the nation's largest pure-play,
publicly-traded television companies, 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, and the CW, reach more than
14 percent of U.S. television households in 15 highly-attractive
markets. Belo stations rank first or second in nearly all of
their local markets. Additional information is available at
www.belo.com or by contacting Paul
Fry, vice president/Investor Relations & Treasury
Operations, at 214-977-4465.
SOURCE Belo Corp.