|
|
 | | | |
- close
- close
- close
- close
| |||||||||
These excerpts taken from the TWC 10-K filed Feb 19, 2010. Common
Stock Dividend
On January 27, 2010, the Company’s Board of Directors
declared a quarterly cash dividend on TWC Common Stock. The
quarterly dividend of $0.40 per share of TWC Common Stock,
representing the first payment of a planned annual dividend of
$1.60 per share, will be payable in cash on March 15, 2010
to stockholders of record at the close of business on
February 26, 2010.
Common
Stock Dividend
On January 27, 2010, the Company’s Board of Directors
declared a quarterly cash dividend on TWC Common Stock. The
quarterly dividend of $0.40 per share of TWC Common Stock,
representing the first payment of a planned annual dividend of
$1.60 per share, will be payable in cash on March 15, 2010
to stockholders of record at the close of business on
February 26, 2010.
Prior to the restructuring of TWE, which was completed in March
2003 (the “TWE Restructuring”), TWE had various
contingent commitments, including guarantees, related to the TWE
non-cable businesses. In connection with the TWE Restructuring,
some of these commitments were not transferred with their
applicable non-cable business and they remain contingent
commitments of TWE. Time Warner and its subsidiary, WCI, have
agreed, on a joint and several basis, to indemnify TWE from and
against any and all of these contingent liabilities, but TWE
remains a party to these commitments.
TWC has cable franchise agreements containing provisions
requiring the construction of cable plant and the provision of
services to customers within the franchise areas. In connection
with these obligations under existing franchise agreements, TWC
obtains surety bonds or letters of credit guaranteeing
performance to municipalities and public utilities and payment
of insurance premiums. Such surety bonds and letters of credit
as of December 31, 2009 and 2008 totaled $313 million
and $288 million, respectively. Payments under these
arrangements are required only in the event of nonperformance.
TWC does not expect that these contingent commitments will
result in any amounts being paid in the foreseeable future.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for TWC: |
| |||||||
