Marchex Announces Regular Quarterly Dividend for 4.75% Convertible Exchangeable Preferred Stock
January 20 2006 - 4:05PM
Business Wire
Marchex, Inc. (Nasdaq:MCHX)(Nasdaq:MCHXP) today announced that the
company's Board of Directors has declared a regular quarterly
dividend in the amount of $2.97 per share on its 4.75% convertible
exchangeable preferred stock in accordance with the terms thereof,
which will be paid on February 15, 2006 to the holders of record as
of the close of business on February 4, 2006. Marchex issued
230,000 shares of the preferred stock in February 2005 and
dividends with respect thereto are payable quarterly on the 15th
day of February, May, August and November of each year that such
preferred stock remains outstanding. As of January 20, 2006,
approximately 7,015 shares of preferred stock have been converted
at the option of the holders thereof into approximately 71,581
shares of Marchex's Class B Common Stock at a conversion price of
$24.50. About Marchex, Inc. Marchex's (www.marchex.com) mission is
to be a leader in delivering vertical and local online traffic to
merchants. The company is focused on search marketing, local
search, and direct navigation. Marchex's platform of integrated
performance-based advertising and search marketing services enables
merchants to efficiently market and sell their products and
services across multiple online distribution channels, including
search engines, product shopping engines, directories and selected
Web properties. Safe Harbor Statement This press release contains
forward-looking statements that involve substantial risks and
uncertainties. All statements, other than statements of historical
facts, included in this press release regarding our strategy,
future operations, future financial position, future revenues,
projected costs, prospects, plans and objectives of management are
forward-looking statements. We may not actually achieve the plans,
intentions or expectations disclosed in our forward- looking
statements and you should not place undue reliance on our forward-
looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward-looking statements we make. There are a number of
important factors that could cause Marchex's actual results to
differ materially from those indicated by such forward-looking
statements which are described in the "Risk Factors" section of our
most recent periodic report and registration statement filed with
the SEC. We disclaim any intention or obligation to update any
forward-looking statements.
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