WMG Board Announces Quarterly Dividend
June 5, 2007 at 5:49 AM (PT)
The Board of Directors of WARNER MUSIC GROUP declared a regular quarterly dividend of 13 cents per share of common stock, representing an aggregate quarterly dividend of approximately $19.4 million (based on outstanding shares of 149,505,665.711 as of MAY 4, 2007). The dividend is payable JULY 25 to stockholders of record as of the close of business JUNE 25.
As previously announced, the company intends to pay regular quarterly dividends on its common stock outstanding in an amount not to exceed $80 million per year. The Board will evaluate whether to pay a dividend on a quarterly basis and will base its decisions on, among other things, our results of operations, cash requirements, financial condition, contractual restrictions and other factors the Board of Directors may deem relevant.