Salem Media Group, Inc. (SALM) to Issue Quarterly Dividend of $0.07 on September 29th
Salem Media Group, Inc. (NASDAQ:SALM) announced a quarterly dividend on Wednesday, September 13th, Wall Street Journal reports. Shareholders of record on Friday, September 22nd will be paid a dividend of 0.065 per share on Friday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, September 21st.
Shares of Salem Media Group (SALM) opened at 6.40 on Friday. The firm has a market cap of $167.16 million, a price-to-earnings ratio of 22.15 and a beta of 1.19. The firm’s 50-day moving average price is $6.48 and its 200-day moving average price is $7.03. Salem Media Group has a 52 week low of $5.00 and a 52 week high of $8.25.
Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $66.11 million for the quarter, compared to analyst estimates of $67.47 million. Salem Media Group had a return on equity of 6.26% and a net margin of 2.75%. Equities research analysts expect that Salem Media Group will post $0.25 EPS for the current fiscal year.
A number of research firms have recently commented on SALM. ValuEngine lowered Salem Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Salem Media Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Noble Financial reiterated a “buy” rating on shares of Salem Media Group in a research note on Tuesday, August 8th.
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In other news, CEO Edward G. Atsinger III sold 3,528 shares of Salem Media Group stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $7.45, for a total value of $26,283.60. Following the transaction, the chief executive officer now directly owns 42,654 shares in the company, valued at $317,772.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,119 shares of company stock worth $30,692 over the last quarter. 60.04% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Salem Media Group stock. State Street Corp boosted its position in shares of Salem Media Group, Inc. (NASDAQ:SALM) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,513 shares of the company’s stock after acquiring an additional 22,696 shares during the period. State Street Corp owned approximately 0.57% of Salem Media Group worth $1,061,000 at the end of the most recent quarter. 30.51% of the stock is currently owned by hedge funds and other institutional investors.
Salem Media Group Company Profile
Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.
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