Cablevision 2012 Annual Report Download - page 39

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Stockholder Dividends and Distributions
Cablevision
On June 30, 2011, Cablevision distributed to its stockholders all of the outstanding common stock of
AMC Networks, a company which consists principally of national programming networks, including
AMC, WE tv, IFC and Sundance Channel, previously owned and operated by the Company's Rainbow
segment. The AMC Networks Distribution took the form of a distribution by Cablevision of one share of
AMC Networks Class A Common Stock for every four shares of CNYG Class A Common Stock held of
record on June 16, 2011 and one share of AMC Networks Class B Common Stock for every four shares
of CNYG Class B Common Stock held of record on June 16, 2011.
The Board of Directors of Cablevision declared the following cash dividends to stockholders of record on
both its CNYG Class A common stock and CNYG Class B common stock:
Declaration Date Dividend per Share Record Date Payment Date
October 24, 2012 $0.15 November 7, 2012 November 28, 2012
August 1, 2012 $0.15 August 14, 2012 September 4, 2012
May 1, 2012 $0.15 May 17, 2012 June 1, 2012
February 22, 2012 $0.15 March 9, 2012 March 30, 2012
October 27, 2011 $0.15 November 11, 2011 December 2, 2011
August 5, 2011 $0.15 August 19, 2011 September 9, 2011
May 4, 2011 $0.15 May 16, 2011 June 6, 2011
February 15, 2011 $0.125 February 28, 2011 March 21, 2011
Cablevision paid dividends aggregating $163.9 million and $162.0 million in 2012 and 2011,
respectively, primarily from the proceeds of equity distribution payments from CSC Holdings. In
addition, as of December 31, 2012, up to approximately $5.7 million will be paid when, and if,
restrictions lapse on restricted shares outstanding.
Cablevision may pay dividends on its capital stock only from net profits and surplus as determined under
Delaware law. If dividends are paid on the CNYG common stock, holders of the CNYG Class A
common stock and CNYG Class B common stock are entitled to receive dividends, and other
distributions in cash, stock or property, equally on a per share basis, except that stock dividends with
respect to CNYG Class A common stock may be paid only with shares of CNYG Class A common stock
and stock dividends with respect to CNYG Class B common stock may be paid only with shares of
CNYG Class B common stock.
Cablevision's indentures restrict the amount of dividends and distributions in respect of any equity interest
that can be made.
CSC Holdings
During the years ended December 31, 2012 and 2011, CSC Holdings made equity distribution payments
to Cablevision, its sole member, aggregating approximately $671.8 million and $929.9 million,
respectively. These distribution payments were funded from cash on hand and cash from operations. The
proceeds were used to fund:
xCablevision's dividends paid;
xCablevision's interest and principal payments on its senior notes;
xCablevision's payments for the acquisition of treasury shares related to statutory minimum tax
withholding obligations upon the vesting of certain restricted shares; and
xthe repurchase of CNYG Class A common stock under Cablevision's share repurchase program.