Also Declares Regular Cash Dividend of $0.125 per Share HOUSTON , July 24, 2014 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that the Company has declared a special quarterly cash dividend of $0.75 per share of common stock and a regular quarterly cash dividend of $0.125 per share of common stock.
In accordance with the terms of the stipulation of settlement, dated
July 8, 2013, among Clear Channel Communications, Inc. (“CCU”) and the
other named defendants; the special litigation committee of the board of
directors of Clear Channel Outdoor Holdings, Inc. (“CCOH”); and the
plaintiffs, the board of directors of CCOH established a committee (the
“Committee”) for the specific purpose of monitoring the Revolving
Promissory Note, dated November 10, 2005, between CCU, as maker, and
CCOH, as payee (as amended, the “Due from CCU Note”). The Committee has
the non-exclusive authority, pursuant to the terms of its charter, to
demand payments under the Due from CCU Note under certain specified
circumstances tied to CCU’s liquidity or the amount outstanding under
the Due from CCU Note as long as CCOH makes a simultaneous dividend
equal to the amount so demanded.
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