Item 8.01 Other Events.

On Monday, October 27, 2008 Warwick Valley Telephone Company (the "Company") issued a press release indicating that the Board of Directors had declared a regular quarterly dividend of $0.20 per share on the Company's Common Shares and a regular quarterly dividend of $1.25 per share on the outstanding 5,000 shares of the Company's 5% Preferred Shares. These dividends are payable on December 31, 2008 to shareholders of record on December 20, 2008. The Company's press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

99.1. Press release entitled, "Warwick Valley Telephone Company Declares Dividend," dated October 27, 2008.

---

Top of the Form