Tribune Media Company announced a special dividend of approximately $500 million that will be paid from existing cash on Tuesday.
The company’s board of directors authorized and declared a special cash dividend of $5.77 per share on the company’s Class A common stock and Class B common stock. In addition, holders of the company’s warrants will receive a cash payment equal to the amount of the dividend paid per share for each share of common stock such warrants are exercisable into.
The dividend is payable on Feb. 3 to stockholders and warrant holders of record at the close of business on Jan.