It will take more than one share of Salem stock to be able to accept this dividend increase in cold hard US currency, but the 4.2% increase in dividend value is real nevertheless and kicks in at the end of the month.
Holders of either Class A or Class B common stock are eligible to receive the dividend, which is increasing from $0.06 per share to $0.0625 per share. That’s a one penny increase per share over the course of a year, and that amount would of course accrue to any four shares of the stock.
The distribution is going out 9/30/04, and there is still time to get on board and get in on it. It will be payable to all stockholders of record as of 9/16/14.
RBR-TVBR observation: Salem is a company to watch. It has a niche, and does its best to own it in more ways than one. In addition to its 104 radio stations and strong big market presence, it is strongly invested in internet content. It also has book and magazine publishing interests.
We have been particularly interested in the growing share of company income Salem’s digital assets are providing. Digital is where the growth is, and Salem is one of the companies blazing the trail that other radio groups can follow to get it.