Ntl (NASDAQ:NTLI)
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NTL Incorporated (NASDAQ:NTLI) today announces that the
Board of Directors of the Company has approved the payment of a
quarterly cash dividend of $0.01 per share of the Company's Common
Stock. The first payment will be made on June 20, 2006 to stockholders
of record as of June 12, 2006.
Jim Mooney, Chairman of NTL said,
"We are pleased to announce NTL's initiation of a regular
quarterly dividend. This is a symbolic action to reflect the strong
cash flow growth opportunities within our business, which together
with our capital structure, gives us future flexibility to drive value
and return cash to our shareholders ."
While NTL intends to pay regular quarterly dividends pursuant to
its new dividend policy, all subsequent dividends will be declared by
the NTL Board of Directors at its discretion. Future dividend payments
and their amounts will take into account future needs and uses of free
cash flow, which could include investments in operations, the
repayment of debt, and share repurchase programs, among other uses.
Contacts
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995:
Various statements contained in this document constitute
"forward-looking statements" as that term is defined under the Private
Securities Litigation Reform Act of 1995. Words like "believe,"
"anticipate," "should," "intend," "plan," "will," "expects,"
"estimates," "projects," "positioned," "strategy," and similar
expressions identify these forward-looking statements, which involve
known and unknown risks, uncertainties and other factors that may
cause our actual results, performance or achievements or industry
results to be materially different from those contemplated, projected,
forecasted, estimated or budgeted, whether expressed or implied, by
these forward-looking statements. These factors include: (1) the
failure to obtain and retain expected synergies from the merger with
Telewest and the proposed transaction with Virgin Mobile; (2) rates of
success in executing, managing and integrating key acquisitions,
including the merger with Telewest and the proposed transaction with
Virgin Mobile; (3) the ability to achieve business plans for the
combined company; (4) the ability to manage and maintain key customer
relationships; (5) the ability to fund debt service obligations
through operating cash flow; (6) the ability to obtain additional
financing in the future and react to competitive and technological
changes; (7) the ability to comply with restrictive covenants in NTL's
indebtedness agreements; (8) the ability to control customer churn;
(9) the ability to compete with a range of other communications and
content providers; (10) the effect of technological changes on NTL's
businesses; (11) the functionality or market acceptance of new
products that NTL may introduce; (12) possible losses in revenues due
to systems failures; (13) the ability to maintain and upgrade NTL's
networks in a cost-effective and timely manner; (14) the reliance on
single-source suppliers for some equipment and software; (15) the
ability to provide attractive programming at a reasonable cost; and
(16) the extent to which NTL's future earnings will be sufficient to
cover its fixed charges.
These and other factors are discussed in more detail under "Risk
Factors" and elsewhere in NTL's Form 10-K and NTL Holdings Inc.'s Form
10-K that were filed with the SEC on February 28, 2006 and March 1,
2006, respectively. We assume no obligation to update our
forward-looking statements to reflect actual results, changes in
assumptions or changes in factors affecting these statements.