Warwick Valley Telephone Company Announces Dividend Increase for Q1 2011

Reflecting the Company's positive outlook for generation of long-term cash flow, the Board of Directors of the Warwick Valley Telephone Company WWVY announced an increase of the Common Share cash dividend for the first quarter of 2011. The new dividend of $.26 is up from $.24. The Board declared that the dividend is to be paid on March 31, 2011 to shareholders of record as of March 21, 2011. On an annualized basis, the new dividend rate is $1.04 versus $.96 per share previously.