|By Business Wire||
|July 29, 2014 04:07 PM EDT||
Cablevision Systems Corporation (NYSE:CVC) announced today that its Board of Directors has declared a quarterly dividend of $0.15 per share on each outstanding share of both its NY Group Class A Stock and NY Group Class B Stock. This quarterly dividend will be payable on September 5, 2014 to shareholders of record at the close of business on August 15, 2014.
The Board also elected Steven J. Simmons to its Board of Directors as a Class A Director, effective immediately. Mr. Simmons will be an independent director and his election increases the total number of Cablevision directors to 18.
Mr. Simmons, 68, has been Chairman and Chief Executive Officer of Simmons Patriot Media & Communications, LLC, a management firm specializing in media and communications, since 2002. He also serves as Chairman of RCN Telecom Services, LLC, Grande Communications, and PPR Media, LLC/Choice Communications. Mr. Simmons was a director of Virgin Media Inc. from 2008 to 2013. He also served as the Chairman of the Connecticut Commission of Educational Achievement and now Chairs the Connecticut Counsel for Education Reform. A graduate of Cornell University and Harvard Law School, Mr. Simmons began his career at the University of California at Irvine where he taught communications and constitutional law.
Cablevision Systems Corporation (NYSE:CVC) is a leading media and telecommunications company, serving millions of households and businesses throughout the greater New York area. Providing quality products that keep customers connected, Cablevision offers Optimum-branded digital cable television, high-speed Internet and voice services as well as Optimum WiFi, the nation's most robust WiFi network. Cablevision’s Lightpath subsidiary is a premier provider of integrated business communications solutions for larger companies. Through its local media and programming properties – News 12 Networks and Newsday Media Group – Cablevision also delivers news and information created specifically for the communities it serves. Additional information about Cablevision is available at www.cablevision.com.
This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the company and its business, operations, financial condition and the industries in which it operates and the factors described in the company’s filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The company disclaims any obligation to update any forward-looking statements contained herein.
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