Its shares on Thursday morning were $4.72 below its 52-week high.
The 24-month trend is rather bleak.
That didn’t stop Beasley Broadcast Group from declaring a quarterly cash dividend.
Beasley’s Board of Directors on Thursday declared a quarterly cash dividend of $0.05 per share of its Class A and Class B common stock.
The dividend is payable on October 7, to shareholders of record on September 30.
Beasley also intends to pay regular quarterly cash dividends for the foreseeable future. But, as many companies state, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.
Beasley shares were at $3.21, up a penny from Wednesday, at the Closing Bell.
By comparison, the last six months saw BBGI top out at $4.47. Over the last year, the 52-week high was $7.80.
Meanwhile, a look back to 2017 shows Beasley stock peaking at $14.05, right before the end of the year.
The sale of shares awarded to the Bordes family following the sale of their privately held Greater Media to Beasley, coupled with new expenses tied to those stations and Sports WBZ-FM in Boston, are the main drivers of the depreciation in stock value.
