News Column

Viad Corp Declares Special Cash Dividend Of $1.50 Per Share Payable On February 14, 2014

February 15, 2014

By a News Reporter-Staff News Editor at Marketing Weekly News -- Viad Corp (NYSE: VVI) announced that its Board of Directors declared a special cash dividend of $1.50 per share, or approximately $30.5 million in the aggregate. Shareholders of record at the close of business on February 7, 2014 will receive the special cash dividend payable on February 14, 2014 . The company expects to continue payment of Viad's regular dividends, which remain subject to quarterly Board approval. "Our Board and management team are dedicated to delivering maximum value to our shareholders and to prudently managing capital," said Paul B. Dykstra , chairman, president and chief executive officer of Viad . "This special cash dividend follows a previous special cash dividend of $2.50 per share that was distributed in November 2013 , and a 150% increase in Viad's regular quarterly dividend that was effective with the October 1, 2012 dividend payment. We remain focused on successfully executing our business strategies for both our Travel & Recreation and Marketing & Events Groups." The company continues to work with its financial advisor, J.P. Morgan Securities LLC , to carefully evaluate opportunities to enhance shareholder value, including a potential separation of Viad's Travel & Recreation and Marketing & Events businesses. While there can be no assurance that this evaluation process will result in any transaction, the evaluation process remains a top priority for the Board. Keywords for this news article include: Marketing, Viad Corp , Advertising. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Marketing Weekly News


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