Time Warner Cable Announces $4 Billion Share Repurchase Authorization and Raises Quarterly Dividend by 17 Percent to $0.56 Per Share
NEW YORK--(BUSINESS WIRE)-- Time Warner Cable Inc. (TWC) today announced that its Board of Directors replenished its share repurchase authorization to $4 billion effective today. The timing of purchases will be based on market conditions and other factors.
The Company also raised its regular quarterly dividend by 17 percent to $0.56 per share; $2.24 per share on an annualized basis. The quarterly dividend is payable in cash on March 15, 2012 to stockholders of record at the close of business on February 29, 2012.
Time Warner Cable Chief Executive Officer Glenn Britt said: Todays announcement is yet another signal of our confidence in our business. It reinforces our focus on returning capital to our shareholders while we continue to invest in the long-term growth of our business.
About Time Warner Cable
Time Warner Cable Inc. is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 14 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and, through its NaviSite subsidiary, managed and outsourced information technology solutions and cloud services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at www.timewarnercable.com, www.twcbc.com, www.navisite.com, and www.twcmedia.com.
Time Warner Cable Inc.
Alex Dudley, 212-364-8229
Justin Venech, 212-364-8242
Tom Robey, 212-364-8218
Laraine Mancini, 212-364-8202
Source: Time Warner Cable Inc.Copyright Business Wire 2012