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Blockbuster Declares Cash Dividend

20 Jul, 2007 By: Erik Gruenwedel

Blockbuster will hold an analyst call to discuss second quarter results July 26.

Blockbuster Inc. said its board approved a quarterly cash dividend of $18.75 per share of its 7-1/2% Series A Cumulative Convertible Perpetual Preferred stock.

Blockbuster in 2005 completed a private equity offering of 150,000 shares of convertible preferred stock, realizing gross proceeds of $150 million. At the time, the company said it would use the funds to help down its $1.3 billion in debt.

Shareholders of the preferred stock will receive the dividend Aug. 15.

Separately, Blockbuster July 26 will hold a call with analysts to discuss second quarter results, the first under new chairman and CEO James Keyes.

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