If you’re a holder of Salem Media Group shares, there’s a small bit of news: You’re due to receive a cash dividend for Q4 on December 21.
Here’s the bad news: Salem shares are at a nearly seven-year low.
At 6am today (11/26), the Camarillo, Calif.-based operator of conservative and Christian-themed radio stations announced that its Board of Directors has declared a cash distribution in the amount of $0.0650 per share.
The cash distribution will be paid to all Class A and Class B common stockholders of record as of Dec. 7.
The news failed to excite investors, as Salem shares fell 2.4% to $2.83 on Monday. Volume was slightly below the average 47,284 shares.
With Monday’s dip, Salem is at a price last seen in February 2012.
Also beastly on Monday was Beasley Media Group. Shares plummeted by 9.7% on higher than normal volume of 73,129 shares (yet still light, given its average of 47,811 shares) and ended up at $5.22.
That puts BBGI at a closing price last seen in October 2016 and far from its 1-year target estimate of $8.
Entravision also suffered on Wall Street on Monday, as EVC shares tumbled 6.5% to $3.32 on volume of 306,088 shares; normal trading volume is 429,979 shares.
It marks a fresh five-year low for Entravision; it last traded at this level in March 2013.
For more on today’s closing prices, please visit the Wall Street Report at RBR.com.
