NTL Declares Initiation of Regular Quarterly Dividend
May 19 2006 - 10:25AM
Business Wire
NTL Incorporated (NASDAQ:NTLI) today announces that the Board of
Directors of the Company has approved the payment of a quarterly
cash dividend of $0.01 per share of the Company's Common Stock. The
first payment will be made on June 20, 2006 to stockholders of
record as of June 12, 2006. Jim Mooney, Chairman of NTL said, "We
are pleased to announce NTL's initiation of a regular quarterly
dividend. This is a symbolic action to reflect the strong cash flow
growth opportunities within our business, which together with our
capital structure, gives us future flexibility to drive value and
return cash to our shareholders ." While NTL intends to pay regular
quarterly dividends pursuant to its new dividend policy, all
subsequent dividends will be declared by the NTL Board of Directors
at its discretion. Future dividend payments and their amounts will
take into account future needs and uses of free cash flow, which
could include investments in operations, the repayment of debt, and
share repurchase programs, among other uses. Contacts "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of
1995: Various statements contained in this document constitute
"forward-looking statements" as that term is defined under the
Private Securities Litigation Reform Act of 1995. Words like
"believe," "anticipate," "should," "intend," "plan," "will,"
"expects," "estimates," "projects," "positioned," "strategy," and
similar expressions identify these forward-looking statements,
which involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or
achievements or industry results to be materially different from
those contemplated, projected, forecasted, estimated or budgeted,
whether expressed or implied, by these forward-looking statements.
These factors include: (1) the failure to obtain and retain
expected synergies from the merger with Telewest and the proposed
transaction with Virgin Mobile; (2) rates of success in executing,
managing and integrating key acquisitions, including the merger
with Telewest and the proposed transaction with Virgin Mobile; (3)
the ability to achieve business plans for the combined company; (4)
the ability to manage and maintain key customer relationships; (5)
the ability to fund debt service obligations through operating cash
flow; (6) the ability to obtain additional financing in the future
and react to competitive and technological changes; (7) the ability
to comply with restrictive covenants in NTL's indebtedness
agreements; (8) the ability to control customer churn; (9) the
ability to compete with a range of other communications and content
providers; (10) the effect of technological changes on NTL's
businesses; (11) the functionality or market acceptance of new
products that NTL may introduce; (12) possible losses in revenues
due to systems failures; (13) the ability to maintain and upgrade
NTL's networks in a cost-effective and timely manner; (14) the
reliance on single-source suppliers for some equipment and
software; (15) the ability to provide attractive programming at a
reasonable cost; and (16) the extent to which NTL's future earnings
will be sufficient to cover its fixed charges. These and other
factors are discussed in more detail under "Risk Factors" and
elsewhere in NTL's Form 10-K and NTL Holdings Inc.'s Form 10-K that
were filed with the SEC on February 28, 2006 and March 1, 2006,
respectively. We assume no obligation to update our forward-looking
statements to reflect actual results, changes in assumptions or
changes in factors affecting these statements.
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