The owner of NewsNation, former Tribune stations such as KTLA-5 in Los Angeles and WGN-9 in Chicago, and key legacy properties including KOIN-6 in Portland, Ore., is rewarding its shareholders with a hefty quarterly cash dividend.
Nexstar Media Group’s Board of Directors has declared a quarterly cash dividend of $0.70 per share of its Class A common stock.
The dividend is payable on Friday, May 28, to shareholders of record on Friday, May 14.
It’s a testament to the strong performance in 2021 for NXST, which opened Thursday’s trading on the Nasdaq GlobalSelect market at $150.56.
With a $160.37 finish on St. Patrick’s Day, Nexstar shares are in a range that’s higher than they’ve ever seen. As the year started, NXST was at $107.83. One year ago, with pandemic concerns plaguing media stocks, NXST was at $66.60.
Now, it bears a 1-year target price of $166.61.
