SANTA MONICA, Calif., Dec. 6, 2011 /PRNewswire/ -- Entravision Communications Corporation (NYSE: EVC) announced today that it has repurchased in open market transactions $16.2 million in aggregate principal amount of its 8.750% senior secured first lien notes due 2017. The company also announced its Board of Directors has declared a special one-time cash dividend of $0.06 per share to shareholders of the company's Class A, Class B and Class U common stock. The dividend will be payable on December 30, 2011 to shareholders of record as of the close of business on December 16, 2011, and the common stock will trade ex-dividend on December 14, 2011. The total amount of cash to be disbursed for the special dividend is expected to be approximately $5.1 million.
"We continually review the strategic use of our capital and today's announcement highlights our commitment to deleverage our balance sheet and efforts to return value to our shareholders," said Walter F. Ulloa, Chairman and Chief Executive Office of Entravision. "We believe we continue to have a solid liquidity position and remain focused on utilizing our unique station portfolio and expanding digital assets to continue to improve our operating performance."
About Entravision Communications Corporation
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and digital operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations. Additionally, Entravision has a variety of cross-platform digital content and sales offerings designed to capitalize on the company's leadership position within the Hispanic broadcasting community. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.SOURCE Entravision Communications Corporation