Publishing News
Financials
December 1-15, 2003 Edition In this section: The Liberty Corporation Regal Entertainment Group
Declares Quarterly
Dividend
GREENVILLE, S.C./11/4/03The board of directors of The Liberty Corporation (NYSE: LC) today declared a regular quarterly dividend of $0.24 per share on its common stock, payable on January 5, 2004, to shareholders of record on December 15, 2003. Liberty currently has approximately 19,239,000 common shares outstanding.
A major group broadcaster, Liberty owns fifteen network-affiliated television stations, including eight NBC affiliates (WAVE-TV, Louisville, KY; WIS-TV, Columbia, SC; WLBT-TV, Jackson, MS; WFIE-TV, Evansville, IN; WSFA-TV, Montgomery, AL; KCBD-TV, Lubbock, TX; WALB-TV, Albany, GA and KPLC-TV, Lake Charles, LA); five ABC affiliates (KLTV-TV, Tyler, TX; KTRE-TV, the satellite affiliate of KLTV in Lufkin, TX; WLOX-TV, Biloxi, MS; WWAY-TV, Wilmington, NC and KAIT-TV, Jonesboro, AR); and two CBS affiliates (WTOL-TV, Toledo, OH and KGBT-TV, Harlingen, TX).
For further information about Liberty, visit the corporate website, http://www.libertycorp.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information contained herein or in any other written or oral statements made by, or on behalf of the Company, is or may be viewed as forward-looking. The words “expect,” “believe,” “anticipate” or similar expressions identify forward-looking statements. Although the Company has used appropriate care in developing any such forward-looking information, forward-looking information involves risks and uncertainties that could significantly impact actual results. These risks and uncertainties include, but are not limited to, the following: changes in national and local markets for television advertising; changes in general economic conditions, including the performance of financial markets and interest rates; competitive, regulatory, or tax changes that affect the cost of or demand for the Company’s products; and adverse litigation results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise.
Expects to Increase 2004
Quarterly Dividend by 20%
KNOXVILLE, Tn/11/5/03Regal Entertainment Group (NYSE:RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States under the Regal Cinemas, United Artists Theatres, Edwards Theatres and Hoyts Cinemas brands and its media company, Regal CineMedia, today announced that its Board of Directors expects to increase the Company’s quarterly Class A and Class B common stock dividend by 20% to $0.18 per share beginning in March 2004. Based on the Company’s stock price as of November 5, 2003, the expected annual dividend yield equals 3.6%.
“Regal Entertainment Group is pleased to announce a significant expected increase in the Company’s 2004 dividend,” stated Mike Campbell, CEO of Regal Entertainment Group’s theatre operations and Co-CEO of Regal Entertainment Group. “Management is proud that the Company, through its industry leading operations, has repeatedly demonstrated its ability to generate significant free cash flow and enabled Regal to offer healthy returns to its stockholders while continuing to maintain a prudent balance sheet,” Campbell continued.
Today’s announcement will not affect the previously announced dividend of $0.15 per share that is payable on December 12, 2003, to stockholders of record on November 24, 2003.
The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.
