Newfoundland Capital Corporation Limited Announces Declaration of Dividend

DARTMOUTH, NS, Aug. 11, 2016 /CNW/ - The Board of Directors of Newfoundland Capital Corporation Limited is pleased to announce that it has approved an increase in dividends to $0.20 per share per annum, up from $0.15 per share per annum.  As a result, the Board of Directors has declared a dividend of $0.10 per share on each of its Class A Subordinate Voting (NCC.A) and Class B Common (NCC.B) shares.  The dividend is payable on September 15, 2016 to shareholders of record at the close of business on August 31, 2016.

There are 21,892,601 Class A Subordinate Voting shares and 3,769,322 Class B Common shares outstanding.

About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of Canada's leading radio broadcasters with 95 licences across Canada.  The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

SOURCE Newfoundland Capital Corporation Limited

REF: Robert G. Steele, President and Chief Executive Officer, Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 8 Basinview Drive, Dartmouth, Nova Scotia B3B 1G4, Tel: [phone], Fax: [phone], e-mail: [email protected], Web: www.ncc.ca