Arbitron Inc. Declares Quarterly Dividend; Holds Annual Stockholders' Meeting
COLUMBIA, Md., May 22, 2013 /PRNewswire/ -- The board of directors of Arbitron Inc. (NYSE: ARB) has approved the payment of a quarterly cash dividend of $0.10 ( ten cents) per common share. The dividend will be paid on or about July 1, 2013 to shareholders of record as of the close of business on June 17, 2013.
If the effective date of the pending merger with Nielsen Holdings N.V. is before June 17, 2013, the dividend will be pro-rated with stockholders receiving $0.001063829787234 per share per day for each day after March 15, 2013, the record date for the previously declared quarterly dividend. In accordance with the merger agreement, the pro rata dividend ensures that stockholders receive a dividend at the current rate until the closing of the pending merger with Nielsen. The pro rata dividend, which amounts to $0.10 per share for the full quarter, will be payable within 30 days after the merger closes to shareholders of record at the close of business on the day before the merger is completed.
As of May 17, 2013, there were approximately 26,863,200 shares outstanding.
Annual Meeting of StockholdersArbitron Inc. held its annual stockholders' meeting on Tuesday, May 21, 2013. Arbitron stockholders elected eleven individuals to the board of directors. Shellye L. Archambeau, Sean R. Creamer, David W. Devonshire, John A. Dimling, Erica Farber, Ronald G. Garriques, Philip Guarascio, William T. Kerr, Larry E. Kittelberger, Luis G. Nogales, Richard A. Post were returned to the board for one year terms, expiring in 2014. Ms. Archambeau is Chief Executive Officer of MetricStream, Inc.; Mr. Creamer is President and Chief Executive Officer of Arbitron Inc.; Mr. Devonshire is the former Executive Vice President and Chief Financial Officer of Motorola, Inc.; Mr. Dimling is the former Chairman Emeritus and former President and Chief Executive Officer of Nielsen Media Research, Inc.; Erica Farber, President and Chief Executive Officer of the Radio Advertising Bureau; Ronald G. Garriques, Chief Executive Officer and Director of Gee Holdings LLC and former President, Communication Solutions Group of Dell Inc.; Mr. Guarascio is the Chairman and Chief Executive Officer of PG Ventures LLC and former Vice President, General Manager of General Motors Corporation's North America Advertising and Corporate Marketing; Mr. Kerr is the former President and Chief Executive Officer of Arbitron Inc.; Mr. Kittelberger is the former Senior Vice President, Technology and Operations of Honeywell International, Inc.; Mr. Nogales is the Managing Partner of Nogales Investors LLC and former Chairman and Chief Executive Officer of Embarcadero Media, Inc., and Mr. Post is the former President and Chief Executive Officer of Autobytel Inc. Stockholders voted to ratify KPMG LLP as Arbitron's independent registered public accounting firm for 2013.
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