Nexstar Media Group Inc.’s Board of Directors has declared a quarterly cash dividend for its shareholders. The announcement precedes the May 8 distribution and subsequent discussion of the company’s first quarter financial performance.
The dividend is $1.86 per share of its common stock. It is payable on Monday, June 2to shareholders of record on Monday, May 19.
“While the Company 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,” the company said.
Nexstar shares were trading at $153.81 in pre-market trading ahead of Tuesday’s Opening Bell on the Nasdaq GlobalSelect market. Year-to-date, “NXST” is down 1.65% in value, and on May 1 closed at a 52-week low of $144.68. Still, Nexstar is the broadcast media company with the best-performing returns on Wall Street for investors, with 138% improvement over five years despite the last year of softness.
