A. H. Belo Corporation Announces Regular and Special Dividend and Share Repurchase Program
September 14 2012 - 6:30AM
Business Wire
A. H. Belo Corporation (NYSE: AHC) announced today that the
Company’s Board of Directors declared a special cash dividend of
$0.24 per share, and a quarterly cash dividend of $0.06 per share,
both payable on December 7, 2012 to shareholders of record at the
close of business on November 16, 2012.
The Company’s Board of Directors also authorized the repurchase
of up to 1,000,000 shares of the Company’s Series A or Series B
Common Stock. The Company expects to utilize this repurchase
authority from time to time through open market purchases,
privately negotiated transactions or otherwise.
Robert W. Decherd, chairman, president and Chief Executive
Officer, said, “Our commitment to returning capital to shareholders
is a key part of A. H. Belo’s financial strategy. Despite pension
funding requirements and various business challenges, the Company
has consistently generated cash. As a result, we are able to
distribute additional cash to shareholders. The share repurchase
authority allows the Company to utilize another avenue to return
capital to shareholders as well as take advantage of market
conditions from time to time.
“We plan to discuss these initiatives in detail, and update
shareholders on our operating strategy and other exciting
initiatives, at Investor Day on October 4, 2012 in Dallas.”
About A. H. Belo
Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas,
Texas, is a distinguished newspaper publishing and local news and
information company that owns and operates four daily newspapers
and related websites. A. H. Belo publishes The Dallas Morning News,
Texas’ leading newspaper and winner of nine Pulitzer Prizes; The
Providence Journal, the oldest continuously-published daily
newspaper in the United States and winner of four Pulitzer Prizes;
The Press-Enterprise (Riverside, CA), serving the Inland Southern
California region and winner of one Pulitzer Prize; and the Denton
Record-Chronicle. The Company publishes niche publications
targeting specific audiences, and its investments and/or
partnerships include Classified Ventures, owner of Cars.com, and
the Yahoo! Newspaper Consortium. A. H. Belo also owns and operates
commercial printing, distribution and direct mail service
businesses. Additional information is available at www.ahbelo.com
or by contacting Alison K. Engel, Senior Vice President/Chief
Financial Officer, at 214-977-2248.
Statements in this communication concerning A. H. Belo
Corporation's (the "Company's") business outlook or future economic
performance, anticipated profitability, revenues, expenses,
dividends, capital expenditures, investments, impairments, pension
plan contributions, real estate sales, share repurchases, future
financings, and other financial and non-financial items that are
not historical facts, are "forward-looking statements" as the term
is defined under applicable federal securities laws.
Forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially
from those statements.
Such risks, uncertainties and factors include, but are not
limited to, changes in capital market conditions and prospects, and
other factors such as changes in advertising demand and newsprint
prices; newspaper circulation trends and other circulation matters,
including changes in readership methods, patterns and demography,
and audits and related actions by the Audit Bureau of Circulations;
challenges implementing increased subscription pricing and new
pricing structures; challenges in achieving expense reduction
goals, and on schedule, and the resulting potential effects on
operations; technological changes; development of Internet
commerce; industry cycles; changes in pricing or other actions by
existing and new competitors and suppliers; labor relations;
regulatory, tax and legal changes; adoption of new accounting
standards or changes in existing accounting standards by the
Financial Accounting Standards Board or other accounting
standard-setting bodies or authorities; the effects of Company
acquisitions, dispositions, co-owned ventures, and investments;
pension plan matters; general economic conditions and changes in
interest rates; significant armed conflict; and other factors
beyond our control, as well as other risks described in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2011, and other public disclosures and filings with
the Securities and Exchange Commission.
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