WWE (WWE) Slashes Quarterly Cash Dividend

WWE (NYSE: WWE) revised its dividend policy to enhance the Company’s financial flexibility and support the “New WWE” initiative. Beginning in June of 2011, the Company’s quarterly dividend will be adjusted to $0.12 per share of common stock held by the Company’s Class A public shareholders. The record date for the dividend will be June 15, 2011, with a payment date of June 27, 2011. (Note - Since March 2008, quarterly cash dividend payments were $0.36 per share)

Members of the McMahon family will also receive dividends in the revised per share amount and, as a result, all Class A and Class B shares will receive dividends in the amount of $0.12 per share.

The revised quarterly payout of $0.12 per share provides a yield of 4.2% based on the April 28 stock price, representing an approximate 130% premium to the S&P 500. Further, the Board will continue to review the Company’s dividend policy on an ongoing basis, including the appropriateness of one-time returns of capital.

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