Salem Media Group Inc (NASDAQ:SALM) declared a quarterly dividend on Monday, November 26th, NASDAQ reports. Investors of record on Friday, December 7th will be given a dividend of 0.065 per share on Friday, December 21st. This represents a $0.26 annualized dividend and a dividend yield of 9.19%. The ex-dividend date is Thursday, December 6th.
Salem Media Group has increased its dividend by an average of 2.0% annually over the last three years. Salem Media Group has a dividend payout ratio of 113.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Salem Media Group to earn $0.10 per share next year, which means the company may not be able to cover its $0.26 annual dividend with an expected future payout ratio of 260.0%.
Shares of NASDAQ SALM opened at $2.83 on Friday. Salem Media Group has a 52-week low of $2.79 and a 52-week high of $6.25. The company has a market cap of $75.41 million, a price-to-earnings ratio of 13.09 and a beta of 1.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.88 and a current ratio of 0.89.
Several analysts have issued reports on SALM shares. Noble Financial restated a “hold” rating on shares of Salem Media Group in a research note on Wednesday, August 15th. TheStreet cut Salem Media Group from a “c” rating to a “d+” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research upgraded Salem Media Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.63.
TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2018/12/01/salem-media-group-inc-salm-to-issue-quarterly-dividend-of-0-07-on-december-21st.html.
About Salem Media Group
Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.