The nation’s largest owner of broadcast TV stations, the NewsNation cable TV network and WGN Radio in Chicago is hiking its quarterly cash dividend by 10%, ahead of its Q4 and year-end 2024 results reveal.
Nexstar Media Group, which trades on Nasdaq as “NXST,” saw its Board of Directors approve an increase to its quarterly cash dividend to $1.86 per share beginning with the dividend declared for the first quarter of 2025. The dividend is payable on Wednesday, February 26, to shareholders of record on Wednesday, February 12, 2025.
Perry Sook, Nexstar Media Group’s Founder, Chairman and Chief Executive Officer, commented, “Nexstar’s twelfth annual dividend increase highlights the significant free cash flow of our businesses and capital allocation policies which have consistently demonstrated our commitment to delivering increased returns to our shareholders. Our industry leadership and operating practices combined with the 2025 cash dividend increase, opportunistic share repurchases, debt reduction and potential growth M&A are key components in our strategies to enhance shareholder value.”
While Nexstar intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.
Nexstar earnings are being distributed on February 27.
The company’s shares on January 10 hit a 52-week low of $150.43 and today are trading in the high $156 to low $157 range. That’s down from $188.50, a closing price seen on Nov. 7, 2024. But, for long-term investors, “NXST” is up 28% on a five-year trend despite the issue being largely languid since the start of 2022.
