SEATTLE--(BUSINESS WIRE)--Marchex, Inc. (NASDAQ: MCHX) today announced that upon the recommendation and approval of the independent Special Committee of the Board, the company's Board of Directors has declared a regular quarterly dividend in the amount of $0.035 per share on its common stock for the first, second, third and fourth quarters of 2013 (totaling $0.14 per share) and is accelerating its payment of these dividends into the fourth quarter of 2012. Marchex will pay the dividends on December 31, 2012 to the holders of record as of the close of business on December 18, 2012. As of December 7, 2012, 9,570,382 shares of Class A common stock and 27,964,815 shares of Class B common stock are outstanding.
Marchex commenced the payment of a regular quarterly cash dividend on its common stock on February 15, 2007. In August 2012, the company increased its regular quarterly dividend from $0.02 to $.035 per share on its common stock. The company intends to pay a regular quarterly dividend, which it anticipates will be transferred from Marchex to Archeo following the proposed spin-off, at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, future prospects for earnings and cash flows as well as other relevant factors.
Marchex, Inc. delivers customer calls to businesses and analyzes those calls so companies can get the most out of their mobile advertising.
Marchex supports its customers through a unique technology platform that has three primary components: (1) Call Analytics, which powers all of Marchex’s advertising solutions, and allows partners to leverage data and insights that accurately measure the performance of mobile, online and offline call advertising; (2) Digital Call Marketplace, which annually connects hundreds of millions of consumer calls to advertisers from a range of mobile and online sources on a Pay For Call basis; and (3) Local Leads, a white-labeled, full service digital advertising solution for small business resellers that drives quality phone calls and other leads to their small business advertisers.
On November 1, 2012, Marchex announced its intention to pursue separation of its business into two distinct, publicly-traded entities. Upon completion of the proposed tax-free spin-off transaction, Marchex’s existing shareholders would hold interests in: (1) Marchex, a pure play mobile advertising company focused on calls, and (2) Archeo, Inc., a premium domain and advertising marketplace. The spin-off is expected to be completed in 2013. Marchex is based in Seattle. To learn more, please visit www.marchex.com.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, other financial guidance, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. In addition, there are certain risks and uncertainties relating to our previously announced spin-off transaction which contemplates a separation of our mobile and call advertising business and our domain and advertising marketplace business, including, but not limited to, the impact and possible disruption to our operations, the timing and certainty of completing the transaction, the high costs in connection with the spin-off which we would not be able to recoup if the spin-off is not consummated, the expectation that the spin-off will be tax-free, revenue and growth expectations for the two independent companies following the spin-off, unanticipated developments that may delay or negatively impact the spin-off, and the ability of each business to operate as an independent entity upon completion of the spin-off. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. All of the information provided in this release is as of December 7, 2012 and Marchex undertakes no duty to update the information provided herein.