Yellow Média inc.
TSX : YLO

Yellow Média inc.

January 17, 2011 09:00 ET

Yellow Media Inc. Announces January 2011 Dividend

MONTREAL, QUEBEC--(Marketwire - Jan. 17, 2011) - Yellow Media Inc. (TSX:YLO) announced today its cash dividend for the month of January 2011 on the Corporation's outstanding common shares. A dividend of $0.0542 per common share will be paid on February 15, 2011 to shareholders of record at the close of business on January 31, 2011. The dividend is designated as an eligible dividend for Canadian income tax purposes.

The new dividend policy reflects a payout of 60% to 70% of adjusted earnings per common share and is intended to provide shareholders with a sustainable source of income. This dividend policy will also allow the Company to reinvest sufficient capital to support growth objectives and achieve its capital structure objective of de-leveraging.

Dividend Reinvestment Plan

Under the Corporation's Dividend Reinvestment Plan (the "Plan"), shareholders who are residents of Canada may elect to have their cash dividends paid on their common shares reinvested into additional common shares of the Company. At this time, for purposes of dividends reinvested under the Plan, the Company will issue new common shares at a 5% discount from the average market price (as defined under the Plan) of the common shares on the dividend payment date.

Eligible shareholders who wish to participate in the Plan should contact the financial institution, broker or other intermediary through which their common shares are held to provide appropriate enrolment instructions and to ensure that any deadlines or other requirements that such financial institution, broker or intermediary may impose or be subject to are met.

About Yellow Media Inc.

Yellow Media Inc. (TSX:YLO) is Canada's #1 Internet company through its network of companies that include Yellow Pages Group, Trader Corporation and Canpages. Yellow Media Inc. owns and operates some of Canada's leading properties and publications including Yellow Pages™ directories, YellowPages.ca™, Canada411.ca™, AutoTrader.ca™, CanadianDriver.com, RedFlagDeals.com, and LesPAC.com. Its online destinations reach over 11.5M unique visitors monthly and its mobile applications for finding local businesses, deals and vehicles have been downloaded over 2M times. Yellow Media Inc. is also a leader in national digital advertising through Mediative, a digital advertising and marketing solutions provider to national agencies and advertisers. For more information, www.ypg.com.

Contact Information