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To: Johnny Canuck who wrote (40962)	4/6/2004 10:25:29 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70762

MGM will recommend $8 dividend By David B. Wilkerson, CBS.MarketWatch.com Last Update: 9:18 PM ET April 6, 2004 SAN FRANCISCO (CBS.MW) -- Metro-Goldwyn-Mayer confirmed Tuesday evening that its management intends to recommend to the company's board of directors that it declare a one-time dividend of $8 per share. CBS MARKETWATCH TOP NEWS IMF: Global markets in a 'sweet spot' The guessing game begins -- timing of rate hikes U.S. stocks finish mixed; Nokia news stalls techs Nokia falls almost 19 percent on sales warning Morgan Stanley buying risk manager Barra for $819 mln Free! Sign up here to receive our Before the Bell e-Newsletter! TRADING CENTER Open a Harrisdirect account! TRACK THESE TOPICS Alerts Company: Metro Goldwyn Mayer Inc Create Get Breaking News sent directly to your inbox Create An Alert The company (MGM: news, chart, profile) said in a brief press release that management expects to make the recommendation after MGM has completed refinancing its credit facility, which is expected to occur by the end of April, 2004. MGM said last month that it was considering a number of options for enriching shareholders, including a special, one-time dividend of $6 to $9 a share. That would bring shareholders $1.4 billion to $2.1 billion. Such a dividend would be one of the few ways the studio has at its disposal to boost shareholder wealth. See full story. The bulk of the dividend payout would go to majority holder Kirk Kerkorian and his holding company, Tracinda Corp., which owns 74 percent of MGM stock. Shares of MGM closed unchanged Tuesday at $17.48. In after-hours trade, the stock added $1.38, or almost 8 percent, to $18.86. David B. Wilkerson is a reporter for CBS.MarketWatch.com in San Francisco.