Beasley’s board has declared a cash dividend of $0.045 per share payable on 1/10, to shareholders of record on 12/27. Said George Beasley, Chairman and CEO: “The re-initiation of a regular cash dividend reflects the free cash flow generated by our operations as well as our commitment to deliver value to our shareholders, and follows the one-time special dividend of $0.085 paid to shareholders in December 2012. Importantly, taking into consideration the proposed annual capital allocated to dividend payments, based on current conditions we believe Beasley Broadcast Group’s total free cash flow should provide us with the liquidity needed to further reduce leverage, consider potential station acquisitions and to enhance long-term shareholder value.”
