Marchex Announces Regular Quarterly Dividend for Common Stock and 4.75% Convertible Exchangeable Preferred Stock
July 20 2007 - 12:00PM
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 $0.02 per share on its common stock and
$2.97 per share on its 4.75% convertible exchangeable preferred
stock. Marchex will pay these dividends on August 15, 2007 to the
holders of record as of the close of business on August 3, 2007. As
of July 19, 2007, 11,559,216 shares of Class A common stock,
30,690,318 shares of Class B common stock and 6,024 shares of
preferred stock are outstanding. Marchex commenced the payment of a
regular quarterly cash dividend on its common stock on February 15,
2007. The company intends to pay a regular quarterly dividend on
its common stock for the foreseeable future at the discretion of
the Board of Directors depending on available cash, anticipated
cash needs, overall financial condition, future prospects for
earnings and cash flows as well as other relevant factors. Marchex
originally issued 230,000 shares of preferred stock in February
2005 and dividends with respect thereto are payable on the 15th day
of February, May, August and November of each year that such
preferred stock remains outstanding. About Marchex, Inc. Marchex
(www.marchex.com) is a technology driven search and media company
focused on vertical and local online traffic. Specifically, 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 sites. 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, certain statements and
expectations regarding 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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