Viad Corp Declares Special Cash Dividend Of $2.50/Share

Viad Corp

today announced that its Board of Directors declared a special cash dividend of $2.50 per share, or approximately $50.8 million in the aggregate.  Shareholders of record at the close of business on November 7, 2013 will receive the special cash dividend payable on November 14, 2013.  The company expects to continue payment of Viad's regular dividends, which remain subject to quarterly Board approval. "We are dedicated to delivering value to our shareholders," said Paul B. Dykstra, chairman, president and chief executive officer of Viad.  "This special dividend follows last year's 150% increase in our regular quarterly dividend and is consistent with our commitment to prudently manage capital.  In addition, we continue to successfully execute our strategies for both our Travel & Recreation and Marketing & Events Groups, while we pursue additional opportunities to enhance value." As previously announced, the Viad Board has authorized management to explore and evaluate opportunities to enhance shareholder value, including a potential separation of its Travel & Recreation and Marketing & Events businesses.  Together with its financial advisor, J.P. Morgan Securities LLC, Viad has