Salem Media Group, Inc. Announces Quarterly Dividend of $0.07 (SALM)

Salem Media Group, Inc. (NASDAQ:SALM) declared a quarterly dividend on Friday, December 8th, Wall Street Journal reports. Investors of record on Monday, December 18th will be given a dividend of 0.065 per share on Friday, December 29th. This represents a $0.26 annualized dividend and a yield of 6.19%. The ex-dividend date is Friday, December 15th.

Salem Media Group (SALM) remained flat at $$4.20 on Friday. 79,589 shares of the stock were exchanged, compared to its average volume of 70,643. The company has a market cap of $109.88, a P/E ratio of 10.24 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.17. Salem Media Group has a 52 week low of $4.05 and a 52 week high of $8.25.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). The company had revenue of $65.43 million for the quarter, compared to the consensus estimate of $68.43 million. Salem Media Group had a net margin of 1.97% and a return on equity of 5.02%. analysts anticipate that Salem Media Group will post 0.17 EPS for the current fiscal year.

A hedge fund recently raised its stake in Salem Media Group stock. State Street Corp grew its holdings in shares of Salem Media Group, Inc. (NASDAQ:SALM) by 17.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,513 shares of the company’s stock after purchasing an additional 22,696 shares during the quarter. State Street Corp owned about 0.57% of Salem Media Group worth $1,061,000 at the end of the most recent reporting period. 30.32% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on SALM shares. Noble Financial restated a “buy” rating on shares of Salem Media Group in a research report on Friday, November 10th. ValuEngine upgraded shares of Salem Media Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

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About Salem Media Group

Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.

Dividend History for Salem Media Group (NASDAQ:SALM)

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