Marchex Announces Regular Quarterly Dividend for 4.75% Convertible Exchangeable Preferred Stock
SEATTLE, WA - January 20, 2006
Marchex, Inc. (NASDAQ: MCHX, MCHXP) today announced that the company's Board of Directors has declared a regular quarterly dividend in the amount of $2.97 per share on its 4.75% convertible exchangeable preferred stock in accordance with the terms thereof, which will be paid on February 15, 2006 to the holders of record as of the close of business on February 4, 2006. Marchex issued 230,000 shares of the preferred stock in February 2005 and dividends with respect thereto are payable quarterly on the 15th day of February, May, August and November of each year that such preferred stock remains outstanding. As of January 20, 2006, approximately 7,015 shares of preferred stock have been converted at the option of the holders thereof into approximately 71,581 shares of Marchex's Class B Common Stock at a conversion price of $24.50.
About Marchex, Inc.
Marchex's (www.marchex.com) mission is to be a leader in delivering vertical and local online traffic to merchants. The company is focused on search marketing, local search, and direct navigation. Marchex's platform of integrated performance-based advertising and search marketing services enables merchants to efficiently market and sell their products and services across multiple online distribution channels, including search engines, product shopping engines, directories and selected Web properties.
Safe Harbor Statement
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward- looking statements and you should not place undue reliance on our forward- looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. We disclaim any intention or obligation to update any forward-looking statements.
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