Business News

Yellow Media Inc. Announces December 2010 Dividend

Thursday 16. December 2010 - Yellow Media Inc. (TSX:YLO) announced today its cash dividend for the month of December 2010 on the Company's outstanding common shares. A dividend of $0.0667 per common share will be paid on January 17, 2011 to shareholders of record at the close of business on December 31, 2010. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Starting January 2011, Yellow Media Inc. will pay a monthly dividend of $0.0542 ($0.65 annually) per common share. The new dividend policy reflects a payout of 60% to 70% of adjusted earnings per common share and is intended to provide shareholders with a sustainable source of income. This dividend policy will also allow the Company to reinvest sufficient capital to support growth objectives and achieve its capital structure objective of de-leveraging.