Business News

Yellow Media Inc. Announces November 2010 Dividend

Wednesday 03. November 2010 - Yellow Media Inc. (TSX:YLO) announced today its cash dividend for the month of November 2010 on the Company's outstanding common shares. A dividend of $0.0667 per common share will be paid on December 15, 2010 to shareholders of record at the close of business on November 30, 2010. The dividend is designated as an eligible dividend for Canadian income tax purposes.

The monthly cash dividend of $0.0667 ($0.80 annually) per common share will be maintained for the month of December 2010. 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.
Dividend Reinvestment Plan
Under the Company’s Dividend Reinvestment Plan (the Plan), shareholders who are residents of Canada may elect to have their cash dividends paid on their common shares reinvested into additional common shares of the Company. At this time, for purposes of dividends reinvested under the Plan, the Company will issue new common shares at a 5% discount from the average market price (as defined under the Plan) of the common shares on the dividend payment date.
Eligible shareholders who wish to participate in the Plan should contact the financial institution, broker or other intermediary through which their common shares are held to provide appropriate enrolment instructions and to ensure that any deadlines or other requirements that such financial institution, broker or intermediary may impose or be subject to are met.