Beasley Broadcast Group Inc (BBGI) to Issue $0.05 Quarterly Dividend

Beasley Broadcast Group Inc (NASDAQ:BBGI) declared a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.045 per share on Friday, January 5th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 28th.

Beasley Broadcast Group (NASDAQ:BBGI) traded down $0.05 during trading on Wednesday, hitting $11.10. The company had a trading volume of 3,700 shares, compared to its average volume of 27,797. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.18 and a quick ratio of 3.18. The stock has a market cap of $320.96, a P/E ratio of 11.61 and a beta of 0.77. Beasley Broadcast Group has a 52 week low of $5.70 and a 52 week high of $18.19.

Several institutional investors have recently bought and sold shares of BBGI. State Street Corp purchased a new stake in shares of Beasley Broadcast Group in the 2nd quarter worth approximately $416,000. Northern Trust Corp grew its stake in shares of Beasley Broadcast Group by 302.9% in the 2nd quarter. Northern Trust Corp now owns 56,422 shares of the company’s stock worth $552,000 after buying an additional 42,419 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Beasley Broadcast Group by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 122,479 shares of the company’s stock worth $1,200,000 after buying an additional 8,146 shares during the last quarter. Institutional investors own 14.68% of the company’s stock.

Separately, BidaskClub downgraded Beasley Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday.

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About Beasley Broadcast Group

Beasley Broadcast Group, Inc is a radio broadcasting company. The Company’s primary business is operating radio stations throughout the United States. As of December 31, 2016, the Company owned and operated 63 radio stations in various radio markets, Atlanta and Augusta in Georgia; Boston, Massachusetts; Charlotte, North Carolina; Detroit, Michigan; Fayetteville, North Carolina; Fort Myers-Naples, Florida; Las Vegas, Nevada; Middlesex, New Jersey; Monmouth, New Jersey; Morristown, New Jersey; Philadelphia, Pennsylvania; Tampa-Saint Petersburg, Florida; West Palm Beach-Boca Raton, Florida, and Wilmington, Delaware.

Dividend History for Beasley Broadcast Group (NASDAQ:BBGI)

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