EarthLink Declares Quarterly Dividend

Wireless News
04-29-2011
EarthLink Declares Quarterly Dividend
Type: News

EarthLink announced that its Board of Directors has declared a quarterly cash dividend on its common stock in the amount of $0.05 per share to be paid on June 27, to shareholders of record on June 13.

Under the terms of the indenture governing EarthLink's outstanding 3.25 percent Convertible Senior Notes due 2026 (the "Notes"), EarthLink's payment of the cash dividend described above, combined with the payment of the $0.05 dividend on March 22, requires an adjustment to the conversion rate for the Notes, which adjustment will be effective June 9. In addition, as a result of the adjustment, the Notes may be surrendered for conversion through June 8, for the consideration provided for in the indenture.
In order to convert a Note held in certificate form, a holder must complete and sign a Conversion Notice in the form attached to the applicable indenture, with appropriate signature guarantee, on the back of the Note, surrender the Note to the Conversion Agent, furnish endorsements and transfer documents required by the Conversion Agent, pay any accrued unpaid interest through the conversion date and pay any tax or duty related to the conversion. If a holder holds a beneficial interest in a Global Security, a converting holder must comply with the applicable procedures of the Depositary, The Depository Trust Company.

EarthLink is a provider of Internet Protocol (IP) infrastructure and services to medium-sized and large businesses, enterprise organizations and over 1.5 million consumers across the United States. The company has been providing Internet access and communications services for decades and has earned a reputation for both outstanding customer service and product development.

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