Guess on Dividend announcementThey probaby do the old announce cut after the market close on a Friday trick LOL
Outlook
Given the continuing uncertain economic conditions, risks and uncertainties described above and in the 2022 MD&A, the company currently expects to continue to be impacted by industry trends in advertising spending in media. At the current time, the company also expects to see some sequential improvement in the calendar year in the rate of decline in television advertising revenue, given macroeconomic and industry factors appear to be stabilizing. However, the company expects that the softness in television advertising revenue discussed in the prior quarter will continue to persist to some degree in fiscal 2023.
While the company's financial priorities remain unchanged, in light of the foregoing as well as considering the continuing low visibility into the macroeconomic environment, in addition to continuing to take rigorous cost reduction measures, the company believes it is prudent to conserve cash out of an abundance of caution. As such, the company will not renew its share buyback program when it expires on Jan. 16, 2023. In addition, consistent with this approach, the company's board of directors has decided to defer its decision on the declaration of the March dividend at this time. The outside date for a decision on the declaration of a March dividend is March 15, 2023. The company will also use this opportunity to consider the alignment of dividend declaration and payment dates. The company understands the importance of the dividend to its shareholders and remains committed to its long-term dividend philosophy.