Entravision Communications Corp (EVC)

[mlkrborn]

EVC $1.50 Entravision announces partial redemption of its 8.750% Senior Secured Notes and $0.12 per Share Special Cash Dividend to shareholders (EVC) 1.36 : Co announces the authorization of the co's Board, on Nov 29, the co gave notice to Wells Fargo Bank, the Trustee of its 8.750% Senior Secured First Lien Notes due 2017, of its intention to redeem a portion of the remaining Notes outstanding on December 31, 2012 in an aggregate principal amount of $40 mln , pursuant to the optional redemption provisions in the Indenture. Following this redemption, ~$324 mln in principal amount of the Notes will remain outstanding. The Board also declared a special one-time cash dividend of $0.12 per share to shareholders of the co's Class A, Class B and Class U common stock. The dividend will be payable on Dec 28, to shareholders of record as of the close of business on Dec 12, and the common stock will trade ex-dividend on December 10, 2012.