(NEW YORK, NY) – Time Warner Cable Inc. (NYSE:TWC) today announced that its Board of Directors has authorized a $4 billion share repurchase program. The timing of purchases will be based on market conditions and other factors.
Time Warner Cable Chief Executive Officer Glenn Britt said: “We are pleased to announce our share repurchase authorization. We remain confident in the stability and growth prospects of our business and its ability to generate strong free cash flow, and now that our leverage ratio is below our target, we believe our share repurchase program is a good complement to the regular dividend that we initiated earlier this year.”
Time Warner Cable Inc. also announced that its Board of Directors declared a regular quarterly dividend of $0.40 per share on the Company’s Common Stock, payable in cash on December 15, 2010 to stockholders of record at the close of business on November 30, 2010.
About Time Warner Cable
Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, Southern California (including Los Angeles) and Texas. Time Warner Cable serves more than 14 million customers who subscribe to one or more of its video, high-speed data and voice services. Time Warner Cable Business Class offers a suite of phone, Internet, Ethernet and cable television services to businesses of all sizes. Time Warner Cable Media Sales, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions that are targeted and affordable. More information about the services of Time Warner Cable is available at www.timewarnercable.com, www.twcbc.com and www.twcmediasales.com.
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|Alex Dudley||(212) 364-8229||Tom Robey||(212) 364-8218|
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