Nexstar Media Group‘s Board of Directors has done it again.
They’re sticking with a quarterly cash dividend that’s quite generous in these COVID-19 times.
In fact, the existence of a dividend at all is noteworthy in and of itself.
Nexstar’s board on Monday revealed that it’s declared a quarterly cash dividend of $0.56 per share of its Class A common stock. The dividend is payable on Friday, November 20, to shareholders of record on Friday, November 6.
While the company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion, Nexstar says.
But, that’s just a formal statement for Wall Street given its dividend track of late. A 56 cent quarterly dividend has been seen consistently from Nexstar since Q1 2020.
That dividend, paid February 28, was a 24.4% increase from the prior quarter.
At the closing bell on Thursday, NXST was at $91.08, up 3.9%. It stems a slip in share value seen over the last few weeks, and is a sign that a surge past $100 could be coming ahead of the dividend payment date’s cutoff.