Metro-Goldwyn-Mayer Inc. Pays Shareholders Extraordinary Cash Dividend of $8.00 Per Share
17 Maio 2004 - 6:00PM
PR Newswire (US)
Metro-Goldwyn-Mayer Inc. Pays Shareholders Extraordinary Cash
Dividend of $8.00 Per Share LOS ANGELES, May 17
/PRNewswire-FirstCall/ -- Metro-Goldwyn-Mayer Inc. today announced
that, as scheduled, on May 17, 2004, the company paid its
previously declared extraordinary cash dividend of $8.00 per share.
The total dividend payout to all MGM shareholders was approximately
$1.89 billion, reflecting MGM's approximately 236.4 million shares
outstanding. In accordance with NYSE policy, the ex-dividend date
is May 18, 2004. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO) "The decision
to reward our shareholders with an extraordinary cash dividend of
this magnitude reflects MGM's track record of generating strong
free cash flow and our confidence in the company's ability to
continue to do so in the future," said Alex Yemenidjian, MGM's
chairman and chief executive officer. MGM expects the entire
dividend to qualify as a tax-free return of capital to
shareholders. Nevertheless, shareholders are encouraged to consult
with their own tax and financial advisors regarding the
implications of this dividend on their individual tax position.
About Metro-Goldwyn-Mayer Metro-Goldwyn-Mayer Inc. (NYSE:MGM),
through its Metro-Goldwyn-Mayer Studios Inc. subsidiary, is
actively engaged in the worldwide production and distribution of
motion pictures, television programming, home video, interactive
media, music and licensed merchandise. The company owns the world's
largest library of modern films, comprising about 4,000 titles.
Operating units include MGM Pictures, United Artists, MGM
Television Entertainment, MGM Networks, MGM Distribution Co., MGM
Worldwide Television Distribution, MGM Home Entertainment, MGM On
Stage, MGM Consumer Products, MGM Music, MGM Interactive and MGM
Direct. In addition, MGM has ownership interests in international
TV channels reaching nearly 110 countries. For more information,
visit http://www.mgm.com/. This news release contains
forward-looking statements that are based upon the Company's
estimates and expectations concerning future events and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from those reflected in the forward-looking
statements. These risks and uncertainties include, among other
things, future competitive and market conditions, whether the
Company's products achieve customer acceptance, future business
decisions, and other factors, including those described in the
Company's filings with the Securities and Exchange Commission, all
of which are difficult or impossible to predict accurately and many
of which are beyond the control of MGM. In light of the significant
uncertainties inherent in the forward-looking information herein,
the inclusion of such information should not be regarded as a
representation by the Company or any other person that the
Company's objectives or plans will be realized. This press release
shall not constitute an offer to sell, or the solicitation of an
offer to buy, any securities of the Company. For further
information please contact Joseph Fitzgerald, EVP, Investor
Relations and Corporate Communications, , or David Bloom, VP,
Corporate Communications, , both of Metro-Goldwyn-Mayer Inc.,
+1-310-449-3660.
http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO
http://photoarchive.ap.org/ DATASOURCE: Metro-Goldwyn-Mayer Inc.
CONTACT: Joseph Fitzgerald, EVP, Investor Relations and Corporate
Communications, , or David Bloom, VP, Corporate Communications, ,
both of Metro-Goldwyn-Mayer Inc., +1-310-449-3660 Web site:
http://www.mgm.com/
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