Subject to legally available funds, West intends to pay a quarterly cash dividend at a rate initally equal to approximately $18.75 million per quarter (or an annual rate of $75 million). This implies a quarterly dividend of approximately $0.225 per share (or an annual dividend of approximately $0.90 per share). West anticipates funding the dividend with cash generated by our operations. The declaration and payment of all future dividends, if any, will be at the sole discretion of the Board of Directors.
The most recent quarterly dividend was paid on November 23, 2016 to shareholders of record as of the close of business on November 14, 2016.