Sinclair Inc. shares were up by more than 22% in Thursday’s trading, while Gray Television’s stock price was some 5.8% higher than Wednesday’s closing value on word that each company’s board of directors had declared healthy dividend payments.
For holders of “SBGI,” a quarterly cash dividend of $0.25 per share on the company’s Class A and Class B common stock is coming.
The dividend is payable on June 17 to shareholders of record at the close of business on June 3.
That news, coupled with a positive Q1 2024 report, propelled Sinclair shares on Thursday. Just before 1pm Eastern, the company’s stock was up 11.9% to $14.86 on heavier than normal trading volume. At the closing bell, with rumors from CNBC that the company is considering the sale of a considerable number of its broadcast TV stations, SBGI finished at $16.26.
Meanwhile, those who hold “GTN” are poised to earn a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on June 28 to shareholders of record at the close of business on June 14.
Gray Television shares were up 3.4% to $6.97 just before 1pm Eastern and finished Thursday’s trading at $7.13.
