Newcap Revenue Down A Little, Profit Up A Little In Second Quarter

Q2

NEWCAP second quarter 2017 revenue fell 1% year-to-year to C$43.6 million, blamed on revenue declines at the ALBERTA and NEWFOUNDLAND AND LABRADOR operations due to the economy and OTTAWA due to ad rates declining, partially offset by growth in TORONTO and SUDBURY. Profit rose 1% to C$8.4 million.

"The Company had a successful second quarter as a focus on controlling costs resulted in savings that more than offset a slight decline in broadcasting revenue," said Pres./CEO ROB STEELE. "We are pleased with the Company's overall results as our efforts to operate efficiently have allowed us to grow margins in the Broadcasting segment compared to the same quarter last year." 

The NEWCAP board also approved an increase in dividends from C$0.20 to C$0.50 per share per annum, resulting in the declaration of a dividend of C$0.25 per share on Class A Subordinate Voting Shares and Class B Common Shares, payable SEPTEMBER 15th to shareholders of record as of AUGUST 31st.

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