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New Media Announces Tax Treatment of 2018 Dividends

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New Media Investment Group Inc. (New Media or the Company, NYSE: NEWM) announced today the tax treatment of its 2018 common stock dividend payments.

Common Stock Dividends

During 2018, dividends for New Medias common stock (CUSIP #64704V106) were $1.49 per share. The Companys distributions in 2018 are considered a return of capital, as set forth below in more detail.

 

                 
   

Record Date

Pay Date

    Distribution     Form

Ordinary Dividend

 

Qualified Dividend(1)

Long-Term Capital Gain

Return of Capital

 
4Q 17 3/14/2018 3/22/2018 0.37 Cash 0.00 0.00 0.00 0.37
1Q 18 5/14/2018 5/16/2018 0.37 Cash 0.00 0.00 0.00 0.37
2Q 18 8/13/2018 8/21/2018 0.37 Cash 0.00 0.00 0.00 0.37
3Q 18 11/12/2018 11/20/2018   0.38 Cash 0.00 0.00 0.00   0.38
Total $ 1.49 0.00 0.00 0.00 $ 1.49
(1) Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount.

The data provided in this press release is provided for informational purposes only and does not constitute tax advice. Stockholders are urged to consult their own tax advisors regarding any issues or decisions regarding the proper tax treatment of their shares of New Media.

About New Media Investment Group Inc.

New Media supports small to mid-size communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to our small and medium business partners. The Company is one of the largest publishers of locally based print and online media in the United States as measured by our 145 daily publications. As of September 30, 2018, New Media operates in over 555 markets across 37 states reaching over 23 million people on a weekly basis and serves over 221,000 business customers.

For more information regarding New Media and to be added to our email distribution list, please visit www.newmediainv.com.

Ashley Higgins, Investor Relations
[email protected]
(212)
479-3160

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West End Indiana Bancshares, Inc. Announces Plan for Distribution of $36.69 per Share to Stockholders in Connection with Its Voluntary Plan of Dissolution and Complete Liquidation

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West End Indiana Bancshares, Inc. (OTC PINK: WEIN) (the Company), the former holding company for West End Bank, S.B., today announced that its Board of Directors has approved a distribution of $36.69 per share to its stockholders of record as of the close of business on October 30, 2020. The payment of the distribution will be initiated on November 2, 2020. This distribution will be made in accordance with the Companys previously announced voluntary Plan of Complete Liquidation and Dissolution (the Liquidation Plan) that was approved by the Companys stockholders at a special meeting of stockholders held on April 15, 2020.

Dissolution Plan Update

The Company is continuing to wind up its operations and resolve all outstanding liabilities and creditor claims. After paying the above distribution amount, any remaining funds will be used for the payment of final dissolution expenses, the settlement of any final claims and expenses and the establishment of any necessary reserve amounts in connection with winding up the Company.

The Company expects the final winding up process to take up to three years and that the amount of any funds remaining following the completion of such process, will be nominal. After completion of the final winding up process following dissolution, the Board of Directors expects to donate any remaining funds to charitable organizations.

Removal from the OTC Pink Marketplace

The Companys common stock continues to be quoted on the OTC Pink marketplace. Upon completion of this distribution, the Company anticipates that its shares will be removed from the OTC Pink marketplace and that further trading will not be permitted. There can be no guarantee on the timing of when its shares will be removed from the OTC Pink marketplace, and the Company does not intend to provide an additional notice of its removal.

The Companys Paying Agent

The Company has appointed Computershare to serve as the Companys paying agent for the distribution. You may contact Computershare with any question about your shares and the distribution.

Below is the contact information for Computershare:

Computershare Attn: Corporate Actions P.O. Box 505004 Louisville KY 40233-5004 Phone: 1-800-546-5141

Stockholders who hold shares in book entry accounts at our transfer agent, Computershare, will receive checks in the amount of their cash distribution. Stockholders who hold shares through a broker or other DTC registered nominee will receive their cash distribution directly into their account at such broker or other nominee. Stockholders with any shares represented by certificates will receive a letter of transmittal with instructions on how to return their certificates in exchange for the cash distribution. In order to receive the $36.69 per share distribution, the stockholders who hold their shares in the form of stock certificates will be required to return their stock certificates.

Forward Looking Statements

This Press Release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended). These statements include, but are not limited to, the anticipated timing and amount of the cash distribution to stockholders, the anticipated removal of the Companys shares from the OTC Pink marketplace, and other statements identified by words such as will, expect, intends, believe, anticipate, estimate, should, intend, plan, potential, predict project, aim, and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of the Company, as well as assumptions made by, and information currently available to, such management, and involve risks and uncertainties, many of which are beyond the control of the Company and its management, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place reliance on such statements.

Particular uncertainties that could materially affect actual results include any risks associated with the proposed completion of the Companys Liquidation Plan, such as: (1) uncertainties as to the timing and expense related to remaining winding up and liquidation activities; (2) unexpected claims of third parties that have not yet been presented to the Company; and (3) unexpected costs, charges or expenses realized in the process of winding up.

The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive. The Company does not intend to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

John P. McBride

President and CEO

West End Indiana Bancshares, Inc.

765.227.4175

[email protected]

Shelley D. Miller

EVP and CFO

West End Indiana Bancshares, Inc.

765.227.2600

[email protected]

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Fast-Track the Time to Care Act: Steelworkers

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The United Steelworkers union (USW) is calling on the Ontario government to commit today to fast-tracking legislation that will vastly improve care for residents of long-term care homes across the province.

Bill 13, the Time to Care Act, heads to second reading in the legislature this evening. This is the perfect time for Doug Fords Conservative government to do the right thing and pass this legislation into law, said Marty Warren, USW Director for Ontario and Atlantic Canada.

The Time to Care Act, a private members bill advanced by New Democrat MPP Theresa Armstrong, will legislate a standard of four hours of hands-on care per resident per day in long-term care homes.

The bill faces second reading this evening, with a vote by MPPs expected to follow tomorrow. However, the Official Opposition NDP and long-term care advocates are calling on the government to agree to fast-track and pass the legislation into law.

Everyone “ except to date the Ford government “ agrees that raising the minimum standard of care in Ontarios long-term care homes is vital and long overdue, Warren said.

This standard of care has even been recommended by the governments own commission that is investigating the catastrophic deaths and suffering in the long-term care system during the pandemic, he added.

What is this government waiting for?

Opposing or delaying passage of this legislation is cruel and a betrayal to residents and staff of long-term care homes across Ontario, said Audra Nixon, a personal support worker in a long-term care facility and the president of the USW District 6 Health Care Council that represents thousands of workers.

Every day this legislation is delayed is another day that our seniors are denied the level of care and dignity they deserve. It is another day that workers in under-staffed homes face impossible demands, debilitating stress and the heartbreak of witnessing first-hand the suffering of vulnerable residents they care for, Nixon said.

Marty Warren, USW Director for Ontario and Atlantic Canada, 416-243-8792

Audra Nixon, President, USW District 6 Health Care Council, 613-551-1386, [email protected]

Bob Gallagher, USW Communications, 416-544-5966, 416-434-2221, [email protected]

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Samsung and VeriSilicon Enable Blaize to Meet Aggressive Time-to-Market Goals for New AI Edge Processor

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Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, in collaboration with design services provider, VeriSilicon, has successfully supported the on-time market launch of AI Edge computing startup Blaizes hardware platform, despite the COVID-19 pandemic.

Leveraging Samsung Foundrys 14nm FinFET process technology and VeriSilicons chip design expertise and IP, Blaize is now offering its AI Edge computing Pathfinder and Xplorer platforms equipped with the Blaize Graph Streaming Processor (GSP), bringing a new class of powerful AI compute capabilities to edge applications such as industrial, smart city, automotive sensor fusion, last mile delivery and retail.

Blaize, based in El Dorado Hills, Calif., is addressing a fundamental issue in Edge AI application deployment: existing solutions are either unable to handle the required computational load, or too costly and difficult to implement in products. At the heart of Blaizes solution is a 100% programmable hardware platform that offers an unprecedented combination of low-latency AI processing, low energy demand, multi-sensor AI analytics, and an accompanying suite of software tools that greatly simplify and accelerate the AI development process.

We built our architecture for Edge AI, rather than adapting it from designs developed for larger settings like data centers and Cloud applications, explains Santiago Fernandez-Gomez, Blaize vice president of platform engineering. Our customers are asking for solutions that are a fraction of the size, use much less power, and can be tailored to their specific market requirements.

Blaizes platform strategy implementation faced a critical challenge: quickly bringing a robust product to market. For both technical and business reasons, our number one goal was to get into production and have products to sell, so we needed working GSP chips as soon as possible. That made a mature process node a top priority, notes Fernandez-Gomez.

At the outset of Blaizes engagement, Samsung Foundry assessed initial plans and goals for the GSP and recommended involving VeriSilicon, a one-stop source for custom silicon solutions and semiconductor IP, with an extensive track record including other AI-related projects.

The Blaize GSP project is a perfect example of why Samsung Foundry has prioritized development of the Samsung Advanced Foundry Ecosystem (SAFE) partnership program, as we pursue our goal of delivering flawless execution, states Hong Hao, senior vice president of Foundry Business at Samsung Electronics. Providing well-integrated access to VeriSilicons design and IP expertise allows a young and innovative company like Blaize to leverage the full breadth and value of our leading process technologies in the most efficient way.

It is a compelling chip design, and the Blaize team has a very good technical background and competence in collaborating across multiple sites, recalls Dr. Mahadev Kolluru, VeriSilicons vice president for North America platform solutions sales. An early order of business was selecting the optimal manufacturing process node; after evaluation of many options, Samsung Foundrys 14nm FinFET process emerged as the ideal choice for this product.

When we considered the target applications for the initial chip, and the fact that much of the required IP at the time was not yet available in more advanced nodes, the mature node made sense, says Dr. Kolluru. Cost is always a concern for everyone. And given our experience working with Samsung on this process over the years, we were confident it was the best path to first-time silicon success.

In those initial few months, the Samsung Foundry team worked hand-in-hand with VeriSilicon, going through every possible design method that would give us the combination of performance and power consumption we required, recalls Fernandez-Gomez. The Samsung foundry brought solutions to the table beyond the standard flows that allowed us to fully meet out targets.

Another key factor was effective supply chain planning. Despite the Covid-19 pandemic and global materials supply shortage, VeriSilicon was able to reserve production capacity not only with Samsung foundry but also with packaging, assembly, and test contractors.

The process rolled forward smoothly through 2019 and into 2020, with teams across locations working together in seamless fashion to address design challenges like system timing and integration of complex machine-learning IP blocks with the graphic-processing elements of the chip. VeriSilicon also provided a verification platform that allowed Blaize to begin developing drivers for the hardware platform. All systems were ready for scheduled tape-out in February when the global COVID-19 forced the lockdown of companies worldwide. VeriSilicon had to close offices 2 weeks before tape-out, but quickly adapted to working remotely along with the Blaize teams who were also transitioning to working remote, to deliver on the original target date.

Even better, when first silicon arrived, the samples were good enough to go directly into production. In my experience, adds Fernandez-Gomez, it can often take six to nine months to go from first silicon to customer samples, and 12 to 18 months to a full production run. VeriSilicon delivered customer samples in two months and the silicon was pretty much perfect, and we will be in real production after six months.

Samsungs Hao calls the project a success story that shows how a collaborative team effort can solve tough problems and meet ambitious goals. It is tremendously satisfying to work alongside people of the caliber found at Blaize and VeriSilicon, and to see so much knowledge and capability coming together in service of these exciting new Edge AI applications.

Editorial Contact:

Lisa Warren-Plungy

Samsung Semiconductor, Inc.

[email protected]

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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