Yesterday after the closing bell, National CineMedia, Inc. announced that it has updated its full year 2008 guidance and provided its outlook for the current year. The company anticipates its full year 2008 results to be at the high end or slightly surpass its previous full year 2008 guidance for total revenue of $364 - $368 million and Adjusted OIBDA of $184 - $187 million.
For the current year, the company predicts total revenue will be a little higher than its 2008 guidance range, but Adjusted OIBDA to be about level with its 2008 guidance range, as margins are anticipated to be slightly lower, mainly as a result of the reduction in high margin beverage revenue.
The company also announced that its Board of Directors has authorized the company's fourth quarter cash dividend of $0.16 per share of common stock. The dividend will be paid on April 2, 2009 to stockholders of record on March 19, 2009. National CineMedia intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors dependent on available cash, anticipated cash needs, overall financial condition, future prospects for earnings and cash flows in addition to other relevant factors.