-- On March 18, 2010, the Company renegotiated the interest rate of the credit facility with Banco Inbursa, S.A. from a fixed annual rate of 13% to a fixed annual rate of 9.5%.
-- On March 16, 2010, in the Annual Stockholders Meeting, the shareholders approved, in accordance with the recommendation of the Company's Board of Directors, a dividend payment to all shareholders from retained earnings for fiscal year 2009 in the amount of Ps. 100,000,000, or approximately Ps. 0.6145 per each of the 162,724,561 Series A Shares outstanding. The dividend was paid in one disbursement on March 24, 2010.
Grupo Radio Centro owns and/or operates 15 radio stations. Of these 15 radio stations, 12 are located in Mexico City, two AM stations in Guadalajara and Monterrey, and one FM station in Los Angeles. The Company's principal activities are the production and broadcasting of musical and entertainment programs, talk shows, news and special events programs. Revenue is primarily derived from the sale of commercial airtime. In addition to the Organizacion Radio Centro radio stations, the Company also operates Grupo RED radio stations and Organizacion Impulsora de Radio (OIR), a radio network that acts as the national sales representative for, and provides programming to, 108 Grupo Radio Centro-affiliated radio stations throughout Mexico.
Note on Forward Looking Statements
This release may contain projections or other forward-looking statements
related to Grupo Radio Centro that involve risks and uncertainties. Readers
are cautioned that the
|SOURCE Grupo Radio Centro, S.A.B. de C.V.|
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