Beasley, Sinclair Bounce Ahead In Thursday’s Trading


U.S. financial markets fell slightly on Thursday, as the Dow Jones Industrial Average lost 28.69, to 21,783.40, and the Nasdaq Composite fell 7.08, to 6,271.33.

But, media stocks were largely in positive territory.

Among the key gainers were Beasley Broadcast Group, which enjoyed a 5.2% rise, to $9.10, after the company’s Board of Directors late Wednesday declared a quarterly cash dividend of $0.045 per share of its Class A and Class B common stock.

The dividend is payable on Oct. 6 to shareholders of record on Sept. 29.

Also up on Thursday: Sinclair Broadcast Group, which gained 3.1%, to $30.25.

On the flip side, Spanish Broadcasting System shares slid 8.2%, to $1.01, after two of the company’s Board of Directors tendered their resignation over differences in how the company should move forward with its recapitalization efforts.

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