DALLAS--(BUSINESS WIRE)--Sep. 14, 2012--
A. H. Belo Corporation (NYSE: AHC) announced today that the Company’s
Board of Directors declared a special cash dividend of $0.24 per share,
and a quarterly cash dividend of $0.06 per share, both payable on
December 7, 2012 to shareholders of record at the close of business on
November 16, 2012.
The Company’s Board of Directors also authorized the repurchase of up to
1,000,000 shares of the Company’s Series A or Series B Common Stock. The
Company expects to utilize this repurchase authority from time to time
through open market purchases, privately negotiated transactions or
otherwise.
Robert W. Decherd, chairman, president and Chief Executive Officer,
said, “Our commitment to returning capital to shareholders is a key part
of A. H. Belo’s financial strategy. Despite pension funding requirements
and various business challenges, the Company has consistently generated
cash. As a result, we are able to distribute additional cash to
shareholders. The share repurchase authority allows the Company to
utilize another avenue to return capital to shareholders as well as take
advantage of market conditions from time to time.
“We plan to discuss these initiatives in detail, and update shareholders
on our operating strategy and other exciting initiatives, at Investor
Day on October 4, 2012 in Dallas.”
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a
distinguished newspaper publishing and local news and information
company that owns and operates four daily newspapers and related
websites. A. H. Belo publishes The Dallas Morning News, Texas’
leading newspaper and winner of nine Pulitzer Prizes; The Providence
Journal, the oldest continuously-published daily newspaper in the
United States and winner of four Pulitzer Prizes; The Press-Enterprise
(Riverside, CA), serving the Inland Southern California region and
winner of one Pulitzer Prize; and the Denton Record-Chronicle.
The Company publishes niche publications targeting specific audiences,
and its investments and/or partnerships include Classified Ventures,
owner of Cars.com, and the Yahoo! Newspaper Consortium. A. H. Belo also
owns and operates commercial printing, distribution and direct mail
service businesses. Additional information is available at www.ahbelo.com
or by contacting Alison K. Engel, Senior Vice President/Chief Financial
Officer, at 214-977-2248.
Statements in this communication concerning A. H. Belo Corporation's
(the "Company's") business outlook or future economic performance,
anticipated profitability, revenues, expenses, dividends, capital
expenditures, investments, impairments, pension plan contributions, real
estate sales, share repurchases, future financings, and other
financial and non-financial items that are not historical facts, are
"forward-looking statements" as the term is defined under applicable
federal securities laws. Forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results
to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited
to, changes in capital market conditions and prospects, and other
factors such as changes in advertising demand and newsprint prices;
newspaper circulation trends and other circulation matters, including
changes in readership methods, patterns and demography, and audits and
related actions by the Audit Bureau of Circulations; challenges
implementing increased subscription pricing and new pricing structures;
challenges in achieving expense reduction goals, and on schedule, and
the resulting potential effects on operations; technological changes;
development of Internet commerce; industry cycles; changes in pricing or
other actions by existing and new competitors and suppliers; labor
relations; regulatory, tax and legal changes; adoption of new accounting
standards or changes in existing accounting standards by the Financial
Accounting Standards Board or other accounting standard-setting bodies
or authorities; the effects of Company acquisitions, dispositions,
co-owned ventures, and investments; pension plan matters; general
economic conditions and changes in interest rates; significant armed
conflict; and other factors beyond our control, as well as other risks
described in the Company's Annual Report on Form 10-K for
the year ended December 31, 2011, and other public disclosures and
filings with the Securities and Exchange Commission.
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Senior
Vice President/Chief Financial Officer
