Thursday, July 23, 2009 1:25:19 PM
By Zacks Equity Research
On Tuesday July 21, 2009, 10:30 am EDT
Companies:Akamai technologies inc.Google inc.Marchex, inc.
Most recently, the Board of Directors of Marchex Inc. (NasdaqGM: MCHX - News), a search and media company focused on vertical and local advertising, declared a regular quarterly dividend of $0.02 per share on its common stock. The dividend is payable on August 17, 2009 to shareholders on record as of the close of business on May 4, 2009. The current dividend yield is 1.9%.
Despite lower-than-expected first quarter 2009 results, Marchex has impressed us by continuing to pay a dividend to return more value to its shareholders. Most of its peers such as Akamai Technologies (NasdaqGS: AKAM - News) and ValueClick Inc. (NasdaqGS: VCLK - News) have not paid dividends as they have been hurt by the current economic recession and reduced consumer spending.
Meanwhile, to increase shareholders wealth, Marchex’s Board of Directors increased its stock repurchase program. During the first quarter of 2009, Marchex increased its stock repurchase plan by 2 million shares to 9 million shares. Additionally, the company repurchased 1.6 million shares of its outstanding Class B common stock for $5.6 million, bringing the total shares repurchased under its stock repurchase program to 7.6 million, or 21% of its outstanding common stock.
We expect the company to continue with its share repurchase program, which will also help boost its bottom line in future quarters. Marchex generated $4.2 million cash from operating activities and ended the March quarter with $25.8 million in cash and zero long-term debt. It also expects to generate positive cash flow in every quarter of 2009.
A strong balance sheet, sustainable dividends and focus on reducing operating expenses facilitate the company’s efforts to weather economic volatility. Marchex is poised to benefit from the shift in demand to performance-based advertising as the company differentiates itself from other search providers focusing on local advertisers. The company continually improves its operating leverage through increased investment in new products.
Recent MCHX News
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 09/18/2024 08:15:03 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 09/18/2024 08:15:03 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 09/18/2024 08:15:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:15:04 PM
- Marchex Partners with DealerOn for Marchex’s AI-Powered Conversation Intelligence Solutions • Business Wire • 08/20/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:15:07 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:15:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:20:09 PM
- Marchex Announces Second Quarter 2024 Results • Business Wire • 08/08/2024 08:15:00 PM
- Marchex to Report Second Quarter 2024 Results on Thursday, August 8, 2024 • Business Wire • 08/01/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 08:30:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 08:30:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/29/2024 08:15:08 PM
- Marchex Receives AI Breakthrough Award for “Best Text Generative AI Solution” for its Call Summaries and Sentiment Suite • Business Wire • 07/25/2024 01:00:00 PM
- Marchex wins 2024 APPEALIE SaaS Customer Success Award • Business Wire • 07/09/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 08:30:07 PM
- Marchex Signs Major International Luxury Automotive Brand to AI-Powered Conversation Intelligence Platform • Business Wire • 05/23/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 07:42:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/20/2024 06:53:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 04:46:52 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 08:33:46 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 05/08/2024 03:25:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:20:16 PM
- Marchex Announces First Quarter Results • Business Wire • 05/07/2024 08:15:00 PM
- Marchex to Report First Quarter 2024 Results on Tuesday, May 7, 2024 • Business Wire • 05/01/2024 01:00:00 PM
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