Contact Information: Media Contact: Will Tanous (212) 275-2244 Investor Contact: Jill Krutick (212) 275-4790
Warner Music Group Corp. Announces Quarterly Cash Dividend
| Source: Warner Music Group
NEW YORK, NY--(Marketwire - September 4, 2007) - The Board of Directors of Warner Music Group
Corp. (NYSE : WMG ) today declared a regular quarterly dividend of $0.13 per
share of common stock, representing an aggregate quarterly dividend of
approximately $19.4 million (based on outstanding shares of 149,525,591.17
as of August 3, 2007). The dividend is payable October 24, 2007, to
stockholders of record as of the close of business September 24, 2007.
As previously announced, the Company intends to pay regular quarterly
dividends on its common stock outstanding in an amount not to exceed $80
million per year. The Board will evaluate whether to pay a dividend on a
quarterly basis and will base its decisions on, among other things, our
results of operations, cash requirements, financial condition, contractual
restrictions and other factors the Board of Directors may deem relevant.
About Warner Music Group
Warner Music Group became the only stand-alone music company to be publicly
traded in the United States in May 2005. With its broad roster of new stars
and legendary artists, Warner Music Group is home to a collection of the
best-known record labels in the music industry including Asylum, Atlantic,
Bad Boy, Cordless, East West, Elektra, Lava, Nonesuch, Reprise, Rhino,
Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music
International, a leading company in national and international repertoire,
operates through numerous international affiliates and licensees in more
than 50 countries. Warner Music Group also includes Warner/Chappell Music,
one of the world's leading music publishers.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of
1995:
This communication includes forward-looking statements that reflect the
current views of Warner Music Group about future events and financial
performance. Words such as "estimates," "expects," "anticipates,"
"projects," "plans," "intends," "believes," "forecasts" and variations of
such words or similar expressions that predict or indicate future events or
trends, or that do not relate to historical matters, identify
forward-looking statements. Our expectations, beliefs and projections are
expressed in good faith and we believe there is a reasonable basis for
them. However, there can be no assurance that management's expectations,
beliefs and projections will result or be achieved. Investors should not
rely on forward-looking statements, including statements regarding our
intentions to pay regular quarterly dividends, because they are subject to
a variety of risks, uncertainties, and other factors that could cause
actual results to differ materially from our expectations. Please refer to
our Form 10-K, Form 10-Qs and our other filings with the Securities and
Exchange Commission concerning factors that could cause actual results to
differ materially from those described in our forward-looking statements.