Salem Media Group Inc (SALM) Declares Quarterly Dividend of $0.07

Salem Media Group Inc (NASDAQ:SALM) announced a quarterly dividend on Monday, November 26th, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 9.25%. The ex-dividend date is Thursday, December 6th.

Salem Media Group has raised its dividend by an average of 2.0% per year over the last three years. Salem Media Group has a dividend payout ratio of 113.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.

NASDAQ:SALM opened at $2.81 on Wednesday. Salem Media Group has a 52 week low of $2.75 and a 52 week high of $6.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $74.10 million, a PE ratio of 12.77 and a beta of 1.16.

Salem Media Group (NASDAQ:SALM) last posted its earnings results on Wednesday, November 7th. The company reported $0.05 EPS for the quarter, beating the Zacks’ 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, analysts expect that Salem Media Group will post 0.2 EPS for the current fiscal year.

Several equities research analysts recently issued reports on SALM shares. Noble Financial reiterated a “hold” rating on shares of Salem Media Group in a report on Wednesday, August 15th. Zacks Investment Research cut Salem Media Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, TheStreet cut Salem Media Group from a “c” rating to a “d+” rating in a report on Tuesday, August 21st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target 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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