SEATTLE, WA - (Marketwire) - 09/19/12 - Fisher Communications, Inc. (NASDAQ: FSCI), a leader in local media innovation, today issued the following update on the one-time special cash dividend of $10.00 per share approved by the Company's Board of Directors, which was announced on August 27, 2012 (the "Special Dividend"):
For special dividends representing 25% or more of the value of the underlying security, NASDAQ's rules require the ex-dividend date to be one business day after the payment date. As the payment date for the Special Dividend is October 19, 2012, NASDAQ has set Monday, October 22, 2012 as the ex-dividend date for the Special Dividend. In addition, the Company understands that trades of the Company's common stock entered into before October 22, 2012 and settled after the September 28, 2012 record date (the "due bill period") will have a due bill attached for the Special Dividend. This means that persons who purchase these securities during the due bill period (even if the trade will settle after the due bill period) are entitled to receive the Special Dividend, and persons who sell the securities during the due bill period (even if the trade will settle after the due bill period) are not entitled to the Special Dividend. Investors who enter into trades to purchase shares of the Company's common stock on or after October 22, 2012 will not be entitled to the Special Dividend.
Due bills obligate sellers to deliver the dividend to the buyer. The due bill obligations are settled customarily between the brokers representing the buyers and sellers of the stock. The Company has no obligations for either the amount of the due bill or the processing of the due bill.
About Fisher Communications
Fisher Communications (FSCI) is an innovative local media company with television, radio, internet and mobile operations throughout the western United States. Fisher owns or operates 13 full power and seven low power television stations, which include network affiliations with ABC, CBS, FOX, Univision and The CW that reach 3.5% of U.S. television households, and three radio stations targeting a full range of audience demographics. Fisher Interactive produces more than 120 local and hyper-local websites and delivers comprehensive multiplatform advertising solutions to local businesses. The Company is headquartered at Fisher Plaza in Seattle, WA. More information about Fisher Communications, Inc. is available at fsci.com.
Todd Johnson, Editor