This excerpt taken from the WMG 8-K filed Oct 3, 2005.
Lava Restructuring Completed
NEW YORK, October 3, 2005 The Board of Directors of Warner Music Group Corp. (NYSE: WMG) today declared a quarterly dividend of $0.13 per share of common stock, representing an aggregate quarterly dividend of approximately $19.3 million (based on outstanding shares of 148,455,312.724 as of September 30, 2005). The dividend is payable on November 23, 2005 to stockholders of record as of the close of business on October 24, 2005.
As previously announced, the Company intends to continue paying quarterly dividends on its outstanding common stock in an amount not to exceed $80 million per year in the aggregate. The Board will evaluate whether to pay a dividend on a quarterly basis and will base its decisions on, among other things, our results of operations, cash requirements, financial condition, contractual restrictions and other factors the Board of Directors may deem relevant.