Journal Cuts Dividend
February 10, 2009 at 4:16 PM (PT)
The Board of Directors of JOURNAL COMMUNICATIONS has reduced its quarterly dividend to 2 cents per share on all of the company’s class A and class B shares held of record as of the close of business on FEBRUARY 24th, 2009. The quarterly dividend will be paid on MARCH 6th, 2009.
"The Board made the decision to reduce the dividend in order to help maintain financial flexibility in this difficult economic environment," JOURNAL COMMUNICATIONS Chairman STEVEN J. SMITH said. "Given the uncertain economic outlook, we believe that this action will allow the company to direct a greater portion of our cash flow to debt reduction."