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Marchex Announces Regular Quarterly Dividend for Common Stock and 4.75% Convertible Exchangeable Preferred Stock
SEATTLE, WA - April 18, 2008
Marchex, Inc. (NASDAQ: MCHX, MCHXP), a local online advertising company and leading publisher of local content, today announced that the company's Board of Directors has declared a regular quarterly dividend in the amount of $0.02 per share on its common stock and $2.97 per share on its 4.75% convertible exchangeable preferred stock. Marchex will pay these dividends on May 15, 2008 to the holders of record as of the close of business on May 2, 2008. As of April 17, 2008, 10,959,216 shares of Class A common stock, 29,134,833 shares of Class B common stock and 5,424 shares of preferred stock are outstanding.
Marchex commenced the payment of a regular quarterly cash dividend on its common stock on February 15, 2007. The company intends to pay a regular quarterly dividend on its common stock for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, future prospects for earnings and cash flows as well as other relevant factors. Marchex originally issued 230,000 shares of preferred stock in February 2005 and dividends with respect thereto are payable on the 15th day of February, May, August and November of each year that such preferred stock remains outstanding.
About Marchex, Inc.
Marchex (www.marchex.com) is a local online advertising company and leading publisher of local content. Marchex's innovative advertising platform delivers search- and call-based marketing products and services for local and national advertisers. Marchex's local content network, one of the largest online, helps consumers make better, more informed local decisions through its network of content-rich Web sites that reach tens of millions of unique visitors each month.
Safe Harbor Statement
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. We disclaim any intention or obligation to update any forward-looking statements.
For further information, contact:
Marchex Investor Relations:
Nyhus Communications for Marchex