FOR IMMEDIATE RELEASE December 15, 2016 NEWFOUNDLAND CAPITAL CORPORATION LIMITED ANNOUNCES DECLARATION OF DIVIDEND

The Board of Directors of Newfoundland Capital Corporation Limited is pleased to announce that it has declared a dividend of $0.10 per share on each of its Class A Subordinate Voting (NCC.A) and Class B Common (NCC.B) shares. The dividend is payable on January 16, 2017 to shareholders of record at the close of business on December 30, 2016.

There are 21,807,409 Class A Subordinate Voting shares and 3,769,322 Class B Common shares outstanding.

About Newfoundland Capital Corporation Limited

Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) owns and operates Newcap Radio, which is one of Canada's leading radio broadcasters with 95 licences across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

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For further information: REF: Robert G. Steele, President and Chief Executive Officer, Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 8 Basinview Drive, Dartmouth, Nova Scotia B3B 1G4, Tel: (902) 468-7557, Fax: (902) 468-7558, e-mail: investorrelations@ncc.ca, Web: www.ncc.ca

Newfoundland Capital Corporation Limited published this content on 15 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 December 2016 22:32:16 UTC.

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