CuriosityStream Inc
For the period ended Mar 19, 2024. Filed Mar 21, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Mar 19, 2024 · Filed Mar 21, 2024
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EX-99.1 · INITIATION OF DIVIDEND PROGRAM
INITIATION OF DIVIDEND PROGRAM
SILVER SPRING, Md. (March 20, 2024) – CuriosityStream Inc. (NASDAQ: CURI), a global factual entertainment company, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. In addition, the Company’s Board of Directors declared a quarterly cash dividend of $0.025 per share, with the first dividend payable on April 30, 2024, to stockholders of record on April 12, 2024. With the initiation of a cash dividend program, CuriosityStream intends to pay regular quarterly dividends.
“Our fourth quarter revenue results met our guidance range while adjusted free cash flow exceeded our guidance range, and we delivered sequential revenue growth in our Direct Business. We continued to decrease our cost base, as we achieved our fifth straight quarter of sequential adjusted free cash flow improvement,” said Clint Stinchcomb, President & CEO. "Looking forward, we will be guiding to positive adjusted free cash flow for the first quarter of 2024, and we believe the initiation of the dividend program, which will be paid from excess cash, underscores our positive outlook for cash flow in 2024."
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