The Company announced today that its Board of Directors has authorized the Company’s fourth quarter cash dividend of $0.22 per share of common stock. The dividend will be paid on March 21, 2013, to stockholders of record on March 7, 2013. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors dependent on available cash, anticipated cash needs, overall financial condition, future prospects for earnings and cash flows as well as other relevant factors.
"We continued to make great progress on our strategy to broaden our client base and expand our digital network as our national advertising revenue grew 7.9% (excluding beverage) and our local advertising business finished the year strong with fourth quarter revenue growth of 19% versus 2011. This revenue growth could have been even stronger had the economy not sputtered during Q4, including the impact of Sandy," said Kurt Hall, National CineMedia’s Chairman and CEO. Mr. Hall concluded, “While contractual increases in our theatre access fees negatively impacted our 2012 Adjusted OIBDA growth, with those fees stabilizing during the next few years and our upfront strategy progressing we are well positioned for Adjusted OIBDA growth over the next few years."
For the first quarter of 2013, the Company expects total revenue in the range of $79.0 million to $84.0 million, or approximately flat to up 6% compared to total revenue for the first quarter of 2012 of $79.1 million and Adjusted OIBDA in the range of $24.0 million to $28.0 million, or a decline of 3% to an increase of 13% compared to Adjusted OIBDA for the first quarter of 2012 of $24.8 million.For the full year 2013, the Company expects total revenue in the range of $455.0 million to $465.0 million, or an increase of 1% to 4% compared to total revenue for the full year of 2012 of $448.8 million, and Adjusted OIBDA in the range of $225.0 million to $235.0 million, or an increase of 2% to 6% compared to Adjusted OIBDA for the full year of 2012 of $221.2 million.