One Step Closer

One Step Closer

While we’re not planning on turning this into a financial communications blog, given recent events, thought I’d just quickly post again about today’s announcement. As you can imagine, we were quite anxious to announce the Investment Canada Act approval in connection with the sale of Trader Corporation (see press release: http://bit.ly/jXG1po). This is a step towards the closing of this much anticipated transaction.

There has been a lot of speculation in the marketplace about whether it would close or not. It even drove us to reiterate our confidence it would close back on May 31 when our stock price first started dropping (see: http://bit.ly/kfFK7R).

As we reminded the market at the time, the proceeds from the sale will be largely used to reduce indebtedness and for general corporate purposes.

We hope this morning's announcement will reassure our different stakeholders who have been understandably vocal over the last few days.

Thanks for your comments!

 

 

Comments

  1. John S

    John S

    Is the dividend safe, or are we on a sinking ship, as per TD’s latest report, which came out just today I believe. TD says there won’t be a dividend by the end of this year. A far cry from the 65 cents per year that YLO has said is stable (I even have an e-mail from Paupe confirming its stability, and not just for 2011, may I say). What can you say to the shattered investors ?

    • Annie Marsolais

      Annie Marsolais

      Hi John – Nothing has changed since our last press release issued on May 31 in which we reaffirm our dividend policy. See:
      http://bit.ly/kfFK7R. Any changes would be communicated widely. I’m sure you can understand that no further comments will be made on that topic.

      • John S

        John S

        Dear Annie,

        You had every opportunity to cut the dividend before initiating the recent buybacks. You can’t have it both ways — buying back common stock and preferreds because you believe the business is worth more, and then turning around and cutting the dividend down the road. The two are contradictory, if you think about it logically.

        Either all is well in Yellow Media Land or it isn’t. Either Yellow Media management is delusional, and out of touch with reality, or the entire market, which has driven your stock down to historic lows, is wrong. Which is it ?

        State your case for us, the shattered investors !

  2. YLO Investor

    YLO Investor

    YLO employees, please do you part and BUY YLO stocks to drive up its stock price. Get your friends and families to buy YLO stocks today!

    It’s a good stock! Great dividends.

  3. YLO Investor

    YLO Investor

    YLO stock below $1 today??????????

    Is this company GOING OUT OF BUSINESS?

    We are extremely disappointed in you. Please bring your stock back to respectability at $6/share or above! YLO employees, get all your family and friends to buy the YLO STOCKS TODAY!

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