Beasley Board Says Yes To Dividend


The company’s stock is mired in a funk that puts its price at levels last seen nearly 10 1/2 years ago. But, that’s not stopping the Board of Directors at Naples, Fla.-based Beasley Broadcast Group¬†from awarding its shareholders.

The Beasley Board on Monday (12/9) declared a quarterly cash dividend of $0.05 per share of its Class A and Class B common stock.

The dividend is payable on January 10, 2020, to shareholders of record on December 31.

It’s a formidable incentive for an issue that gets relatively light trading, and mainly from institutional investors. Average volume as of Dec. 9 was just under 24,000 shares.

Wall Street sees Beasley shares as Undervalued, and has good short-term and mid-term analyses for BBGI. But, its long-term financial outlook remains hazy. As such, a $4.50 target estimate is in place for Beasley.

BBGI is a far distance from that price: With less than an hour remaining in trading on Monday, Beasley shares were at $3.05.

While that’s BBGI’s best performance since Oct. 1, it is a far cry from the start of the year, when they were at $4.59. Furthermore, Beasley’s five-year curve is nothing short of dismal.