WARWICK, NY--(Marketwire - August 4, 2009) - The Board of Directors of the Warwick Valley Telephone Company (NASDAQ: WWVY) declared a regular quarterly dividend of $0.22 per share on the Company's Common Shares. The dividend is payable on September 30, 2009 to shareholders of record as of September 18, 2009.

In addition, the Board of Directors declared the regular quarterly dividend of $1.25 per share on the outstanding 5,000 shares of the Company's 5% Preferred Shares to be paid on September 30, 2009 to shareholders of record as of September 18, 2009.

Warwick Valley Telephone Company is a full service telecommunications company operating in southern Orange County, New York and portions of central New York and northwestern New Jersey. Through its subsidiaries and affiliated companies, Warwick Valley Telephone Company offers local, long distance, Internet and video services.

Contact Information: Contact: Duane W. Albro President & CEO (845) 986-2100