According to the company’s founder and Chairman/CEO, its “strong free cash flow generation” continues to support its commitment to delivering increased returns to shareholders.
As such, Nexstar Media Group is increasing its quarterly cash dividend.
Nexstar’s Board of Directors has approved a 25% increase to its quarterly cash dividend, raising it to $1.69 per share beginning with the dividend declared for the first quarter of 2024.
The dividend is payable on Friday, February 23, to shareholders of record on Friday, February 9, 2024.
“The eleventh consecutive annual increase in our cash dividend, combined with our opportunistic share repurchase activity, reflects our continued confidence in Nexstar’s business model, competitive positioning and growth opportunities,” said Nexstar head Perry Sook.
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.
