By Adam R Jacobson
RBR + TVBR
When it comes to quarterly earnings reports for major radio broadcasters, Entercom couldn’t have asked for more positive news.
Yes, expenses were up. But, so was net income and net revenue.
With shares finishing Monday’s trading at $13.15 — a welcome 5 cent climb after a recent dip to $12.55 — Entercom’s top brass believe they are on track for a stellar 2017.
With an upcoming 7 1/2-cent dividend payable on Dec. 15, Entercom EVP/CFO Steve Fisher noted on a conference call with financial analysts yesterday that the dividend represents just 15% of its Free Cash Flow pro forma, and that the company has a “disciplined eye toward value creation.”