|By Marketwired .||
|June 18, 2014 07:25 PM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 06/18/14 -- FP Newspapers Inc. (TSX: FP) today announced a cash dividend of $0.05 per share, payable on July 31, 2014 to shareholders of record at the close of business on June 30, 2014. Dividend frequency will be changed from monthly to quarterly following the September 2014 dividend.
All dividends paid by the Company in 2014 and subsequent years, unless stated otherwise, are designated to be eligible dividends pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. Holders of shares who are non-residents of Canada will be required to pay all withholding taxes payable in respect of the dividend.
FPI owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership ("FPLP"). FPLP owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division, the publisher of six community newspapers in the Winnipeg region, The Carillon in Steinbach with its related commercial printing operations, and the Carberry News Express weekly publication. The Winnipeg Free Press publishes six days a week for delivery to subscribers and single copy sales, serving Winnipeg and Manitoba with an average Monday through Saturday circulation of approximately 109,700 copies. On Sundays the Winnipeg Free Press publishes a newspaper sold through single-copy retail outlets and vending boxes. The Brandon Sun publishes six days a week, serving the region with an average circulation of approximately 11,900 copies. Canstar Community News publishes weekly with an average circulation of approximately 200,000 copies. The businesses employ approximately 520 full time equivalent people in Winnipeg, Brandon, Steinbach and Carberry Manitoba. Further information can be found at www.fpnewspapers.com, and in the disclosure documents filed by FP Newspapers Inc. with the securities regulatory authorities, available at www.sedar.com.
FP Newspapers Inc.
(204) 632-0281 (FAX)