Time Warner Cable Announces $4 Billion Share Repurchase Authorization and Declares Quarterly Dividen
Time Warner Cable Announces $4 Billion Share Repurchase Authorization and Declares Quarterly Dividend
NEW YORK--(BUSINESS WIRE)-- Time Warner Cable Inc. (NYS: TWC) today announced that its Board of Directors replenished its share repurchase authorization to $4 billion effective today. The timing of purchases will be based on market conditions and other factors.
The Company also declared a quarterly dividend of $0.65 per share on the Company's Common Stock, payable in cash on September 16, 2013 to stockholders of record at the close of business on August 30, 2013.
Time Warner Cable Chief Executive Officer Glenn Britt said: "Today's announcement is yet another signal of our confidence in our business. We remain committed to returning capital to our shareholders while we continue to invest in the long-term growth of our business."
About Time Warner Cable
Time Warner Cable Inc. (NYS: TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 15 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and enterprise-class, cloud-enabled hosting, managed applications and services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at www.twc.com, www.twcbc.com and www.twcmedia.com.
Time Warner Cable Inc.
Justin Venech, 212-364-8242
Eric Mangan, 212-364-8297
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