Entercom Communications‘ Board of Directors has approved a quarterly dividend on the company’s stock of $0.09 per share.
The dividend is payable on December 14, 2018 to shareholders of record as of the close of business on November 27.
The announcement came following the Closing Bell on Wall Street, as Entercom shares dipped 1 cent to $7.11.
The dividend comes one day after Entercom shares go ex-dividend and was expected.
What was not revealed during the company’s Q3 earnings call was the value of the dividend to shareholders.
The 9-cent quarterly dividend is in line with previous quarters.
The forward yield is 5.06%.