Entravision Launches Quarterly Dividend
December 6, 2013 at 4:04 AM (PT)
The board of directors of ENTRAVISION COMMUNICATIONS CORPORATION has approved the launch of a quarterly cash dividend and declared an initial dividend of 2.5 cents per Class A, Class B, and Class U share, totaling $2.2 million in aggregate and payable DECEMBER 30th to shareholders of record as of DECEMBER 12th.
The board also declared a special one-time cash dividend of 10 cents/share, aggregate amount $8.8 million, payable DECEMBER 30th to shareholders of record as of DECEMBER 16th.
And the company announced that it intends to prepay $10 million of term loans under its senior secured term loan credit facility it entered into on MAY 31st.
Chairman/CEO WALTER F. ULLOA said, "Our strong financial performance and balance sheet offers us the opportunity to return value directly to our shareholders through the first quarterly dividend in ENTRAVISION's history. We are pleased to deliver additional returns through the one-time special dividend as well as further reduce our debt and strengthen our balance sheet. Our liquidity position remains solid and we are focused on continuing to execute our growth strategy and generate strong operating results."