jvid视频 Declares Special Cash Dividend of $1.50 per Common Share and Announces Commencement of Share Buyback Program

jvid视频 Declares Quarterly Cash Dividend on 8.0% Series A Cumulative Redeemable Preferred Stock

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- jvid视频. ("jvid视频") (Nasdaq: QRTEA, QRTEB, QRTEP) today announced that its Board of Directors declared a special cash dividend in the amount of $1.50 per common share, for an aggregate dividend of approximately $626 million, payable in cash on December 7, 2020 to stockholders of record of jvid视频鈥檚 Series A and Series B common stock at the close of business on November 30, 2020. Additionally, jvid视频鈥檚 Board of Directors announced the commencement of its buyback program for jvid视频鈥檚 Series A common stock. The outstanding repurchase authorization for jvid视频 is approximately $497 million. The specific timing and amount of actual future share repurchases will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using jvid视频鈥檚 cash and cash equivalents, and the buyback program may be suspended or discontinued at any time without prior notice.

鈥淲e are pleased to announce further actions that deliver free cash flow to our shareholders: a one-time cash dividend and the commencement of repurchases of our shares. We have continued confidence in the strength of the business and believe this is an efficient return of capital while maintaining our stated leverage target,鈥� said Greg Maffei, jvid视频 Chairman.

jvid视频 also announced today that its Board of Directors declared a quarterly cash dividend of $2.01643836 per share of 8.0% Series A Cumulative Redeemable Preferred Stock (the 鈥淧referred Stock鈥�), payable in cash on December 15, 2020, to stockholders of record of the Preferred Stock at the close of business on November 30, 2020.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about the commencement of our stock repurchase program. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, regulatory matters affecting our businesses, continued access to capital on terms acceptable to jvid视频, changes in law and government regulations, the availability of investment opportunities, general market conditions (including as a result of COVID-19) and market conditions conducive to stock repurchases. These forward-looking statements speak only as of the date of this press release, and jvid视频 expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in jvid视频's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of jvid视频, including the most recent Forms 10-K and 10-Q, for additional information about jvid视频 and about the risks and uncertainties related to jvid视频's business which may affect the statements made in this press release.

jvid视频 jvid视频.

jvid视频. operates and owns interests in a broad range of digital commerce businesses. jvid视频.鈥檚 businesses and assets consist of QVC (and its subsidiaries, including HSN), Zulily and the Cornerstone Brands (collectively, the jvid视频 Group) as well as various green energy and other investments.

jvid视频.
Courtnee Chun, 720-875-5420

Source: jvid视频.

Released November 20, 2020