Salem Media Group Inc (SALM) to Issue Quarterly Dividend of $0.07 on December 21st

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.

Salem Media Group (NASDAQ:SALM) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Salem Media Group had a return on equity of 2.42% and a net margin of 8.46%. The firm had revenue of $65.53 million for the quarter, compared to analysts’ expectations of $65.85 million. As a group, equities research analysts predict that Salem Media Group will post 0.2 EPS for the current fiscal year.

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.

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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.

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Dividend History for Salem Media Group (NASDAQ:SALM)

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