Salem Media Group Inc (NASDAQ:SALM) announced a quarterly dividend on Wednesday, September 5th, NASDAQ reports. Stockholders of record on Monday, September 17th will be paid a dividend of 0.065 per share on Friday, September 28th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date is Friday, September 14th.

Salem Media Group has raised its dividend by an average of 2.0% per year over the last three years. Salem Media Group has a payout ratio of 92.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Salem Media Group to earn $0.25 per share next year, which means the company may not be able to cover its $0.26 annual dividend with an expected future payout ratio of 104.0%.

Shares of Salem Media Group stock opened at $3.90 on Thursday. The stock has a market capitalization of $100.79 million, a PE ratio of 17.73 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 1.06. Salem Media Group has a 1 year low of $3.10 and a 1 year high of $6.75.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Wednesday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.16). The company had revenue of $66.27 million during the quarter, compared to analyst estimates of $65.65 million. Salem Media Group had a net margin of 7.98% and a return on equity of 1.90%. sell-side analysts forecast that Salem Media Group will post 0.28 earnings per share for the current year.

A number of equities research analysts have recently issued reports on SALM shares. ValuEngine lowered shares of Salem Media Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. TheStreet lowered shares of Salem Media Group from a “c” rating to a “d+” rating in a research note on Tuesday, August 21st. Zacks Investment Research upgraded shares of Salem Media Group from a “hold” rating to a “strong-buy” rating and set a $4.25 target price on the stock in a research note on Thursday, May 17th. Noble Financial reiterated a “hold” rating on shares of Salem Media Group in a research note on Wednesday, August 15th. Finally, Gabelli reiterated a “buy” rating on shares of Salem Media Group in a research note on Wednesday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Salem Media Group has an average rating of “Hold” and an average price target of $7.63.

In other Salem Media Group news, CEO Edward G. Atsinger III acquired 27,553 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $96,435.50. Following the completion of the purchase, the chief executive officer now directly owns 27,553 shares in the company, valued at $96,435.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher J. Henderson sold 4,365 shares of the stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $6.25, for a total transaction of $27,281.25. Following the sale, the executive vice president now owns 4,365 shares in the company, valued at approximately $27,281.25. The disclosure for this sale can be found here. 59.99% of the stock is owned by corporate insiders.

About Salem Media Group

Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

Recommended Story: Stock Symbols Definition, Examples, Lookup

Dividend History for Salem Media Group (NASDAQ:SALM)

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.