The California-based multimedia company specializing in Christian and conservative content will be rewarding stockholders with a dividend payment. It will be paid on September 28 to all Class A and Class B common stockholders of record as of September 17.
The value of Salem Media Group‘s Q3 cash distribution, approved Wednesday by the company’s Board of Directors, is $0.0650 per share.
The news comes as Salem shares rose 5 cents to $3.85 in Thursday’s trading.
After spiking at $5.95 on July 2, Salem shares have struggled, retreating to prices in the mid-$3 range seen in May and April, when SALM stock dipped as low as $3.20.
The 52-week high for Salem is $6.60, seen nearly a year ago.