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Article: Time Warner Cable Announces Special Cash Dividend and Reverse Stock Split.
- Article from:
- Business Wire
- Article date:
- February 26, 2009
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NEW YORK -- Time Warner Cable Inc. (NYSE: TWC) today announced that its Board of Directors has declared a special cash dividend of $10.27 per share of its common stock, which, subject to certain conditions, will be payable on March 12, 2009, to holders of record as of the close of business on March 11, 2009. The special dividend was declared in connection with the company's separation from Time Warner Inc.
The special dividend and the separation are being undertaken pursuant to a separation agreement entered into on May 20, 2008, by and among Time Warner Cable, Time Warner and certain of their subsidiaries. Time Warner is expected to issue a separate release later ...