After some bit of bravado in Fortune magazine, Time Warner Chairman Dick Parsons told shareholders Friday that he sees no need for a spinoff of AOL at this time. “There’s a question we’ve had with AOL’s management about whether they need a currency of their own to consolidate the Internet space,” he said. “We’ve concluded that there doesn’t seem to be a need for that at this time.”
Related: Dividend issue: We don’t usually cover dividend announcements but this one represents another step for Time Warner in a series designed to assure investors that the bad, old days are a distant memory. This time, it’s the promise of a regular quarterly dividend of $0.05 for its common stock starting in the third quarter.
From TW Chairman & CEO Dick Parsons: “Today’s announcement underscores the progress of our company over the past several years and our confidence in Time Warner’s future success.” Read the fine print at the link above.
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