Glacier Announces Increase in Dividend
28 Janeiro 2013 - 11:00AM
Marketwired
The board of directors of Glacier Media Inc. (TSX:GVC) ("Glacier"
or the "Company") announced today that it has adopted a new
dividend policy whereby it intends to increase the dividend on
common shares to $0.08 annually, payable on a quarterly basis. As a
result, the board has declared the payment of a quarterly cash
dividend of $0.02 per common share payable to shareholders of
record on March 15, 2013. The dividend will be paid on April 5,
2013. The new dividend represents a 33% increase from the previous
dividend policy of $0.06 annually.
On an annualized basis, the dividend represents a yield of
approximately 4.4% based upon the current market trading price of
Glacier common shares.
The new dividend policy is consistent with Glacier's ongoing
objective of maximizing shareholder value and related return on
investment for shareholders. Glacier generates sufficient cash flow
from operations and has available financial capacity to pursue and
internally finance acquisition opportunities, invest in operations
as required, maintain debt at prudent levels, repurchase its shares
as deemed attractive, and pay the increased dividend.
Many growth opportunities continue to be available to Glacier,
both organically and through acquisition. While economic conditions
have been weak over the past year, the Company's cash flow remains
strong, and prospects for future growth in cash flow remain
attractive. As such, an increasing portion of Glacier's cash flow
can be returned to shareholders in the future through increased
dividends while still maintaining ample funding capacity for growth
initiatives.
The dividend is an eligible dividend for Canadian tax
purposes.
Shares in Glacier can be traded on the Toronto Stock Exchange
under the symbol GVC.
About the Company: Glacier Media Inc. is an information
communications company focused on the provision of primary and
essential information and related services through print,
electronic and online media. Glacier is pursuing this strategy
through its core businesses: the local newspaper, trade information
and business and professional information markets.
Forward Looking Statements
This news release contains forward-looking statements that
relate to, among other things, the Company's objectives, goals,
strategies, intentions, plans, beliefs, expectations and estimates.
These forward-looking statements include, among other things,
statements relating to the Company's intention to pay dividends,
pursue acquisitions and repurchase shares. These forward looking
statements are based on certain assumptions, including continued
economic recovery and the realization of cost savings, available
financial resources and the declaration of future dividends by the
Board of Directors and are subject to risks, uncertainties and
other factors which may cause results, performance or achievements
of the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements, and undue reliance should not be placed
on such statements.
Important factors that could cause actual results to differ
materially from these expectations are listed in the Company's
Annual Information Form under the heading "Risk Factors" and in the
Company's MD&A under the heading "Business Environment and
Risks", many of which are out of the Company's control. These
factors include, but are not limited to, the ability of the Company
to sell advertising and subscriptions related to its publications,
foreign exchange rate fluctuations, the seasonal and cyclical
nature of the agricultural industry, discontinuation of Department
of Canadian Heritage, Canada Periodical Fund, general market
conditions in both Canada and the United States, changes in the
prices of purchased supplies including newsprint, the effects of
competition in the Company's markets, dependence on key personnel,
integration of newly acquired businesses, technological changes,
and financing and debt service risk.
The forward-looking statements made in this news release relate
only to events or information as of the date on which the
statements are made. Except as required by law, the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
Contacts: Glacier Media Inc. Mr. Orest Smysnuik Chief Financial
Officer 604-708-3264 www.glaciermedia.ca
Glacier Media (TSX:GVC)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Glacier Media (TSX:GVC)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
