FP Newspapers Inc
TSX : FP

February 16, 2011 18:48 ET

FP Newspapers Inc. Announces Monthly Dividend-February 2011

WINNIPEG, MANITOBA--(Marketwire - Feb. 16, 2011) - FP Newspapers Inc. (TSX:FP) today announced a cash dividend of $0.05 per share, payable on March 30, 2011 to shareholders of record at the close of business on February 28, 2011.

All dividends paid by the Company in 2011 and subsequent years, unless stated otherwise, are designated to be eligible dividends pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. Holders of shares who are non-residents of Canada will be required to pay all withholding taxes payable in respect of the dividend.

The Company is also pleased to announce that Phil de Montmollin has joined its board of directors. Mr. de Montmollin, who is a retired newspaper executive, has served as a director of FPCN General Partner Inc., the general partner of FP Canadian Newspapers Limited Partnership, since 2002.

FP Newspapers Inc. owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. FP Canadian Newspapers Limited Partnership owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division, the publisher of eight community and special interest newspapers in the Winnipeg region. The Winnipeg Free Press publishes six days a week for delivery to subscribers and single copy sales, serving Winnipeg and Manitoba with an average Monday through Saturday circulation of approximately 126,500 copies. On Sundays the Winnipeg Free Press publishes a tabloid size newspaper sold through single-copy retail outlets and vending boxes. The Brandon Sun publishes seven days a week, serving the region with an average circulation of approximately 15,200 copies. Canstar Community News publishes weekly with an average circulation of approximately 200,000 copies. Based in Winnipeg, the businesses employ approximately 550 people in Winnipeg and Brandon. Further information can be found at www.fpnewspapers.com, and in the disclosure documents filed by FP Newspapers Inc. with the securities regulatory authorities, available at www.sedar.com.

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