NEW YORK, Sept. 21 /PRNewswire-FirstCall/ -- Hearst-Argyle Television, Inc. announced today that its Board of Directors has declared a quarterly cash dividend of $0.07 per share on its Series A and Series B Common Stock. The dividend is payable on October 15, 2006 to shareholders of record at the close of business on October 5, 2006.
Hearst-Argyle Television, Inc. owns 26 television stations, and manages an additional three television and two radio stations, in geographically diverse U.S. markets. The Company's television stations reach approximately 18% of U.S. TV households, making it one of America's largest television station groups. Hearst-Argyle owns 12 ABC-affiliated stations, and manages an additional ABC station owned by Hearst Corporation, and is the largest ABC affiliate group. The Company also owns 10 NBC affiliates, and is the second- largest NBC affiliate owner, and owns two CBS affiliates. Hearst-Argyle also is a leader in the convergence of local broadcast television and the Internet through its partnership with Internet Broadcasting. Hearst-Argyle is majority owned by Hearst Corporation. Hearst-Argyle Series A Common Stock trades on the New York Stock Exchange under the symbol "HTV." HTV debt is rated investment grade by Moody's (Baa3), Standard & Poor's (BBB-) and Fitch (BBB-), each with a stable outlook.
