Sinclair, Inc. to Issue Quarterly Dividend of $0.25 (NASDAQ:SBGI)

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, February 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of 0.25 per share on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, March 10th.

Sinclair has raised its dividend payment by an average of 0.0%per year over the last three years. Sinclair has a payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Price Performance

Shares of SBGI stock traded up $2.26 during trading hours on Thursday, reaching $16.12. The stock had a trading volume of 331,062 shares, compared to its average volume of 339,508. The stock’s fifty day simple moving average is $14.88 and its 200 day simple moving average is $14.67. The firm has a market capitalization of $1.12 billion, a PE ratio of -25.72 and a beta of 0.96. Sinclair has a 12 month low of $11.89 and a 12 month high of $17.88. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 14.77.

Insider Activity at Sinclair

In other Sinclair news, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the completion of the sale, the executive vice president directly owned 165,272 shares in the company, valued at $2,755,084.24. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Howard E. Friedman sold 14,713 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total value of $222,313.43. Following the transaction, the director directly owned 77,685 shares in the company, valued at $1,173,820.35. This trade represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 50,637 shares of company stock valued at $815,535. Insiders own 41.90% of the company’s stock.

Institutional Investors Weigh In On Sinclair

Several institutional investors have recently bought and sold shares of SBGI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sinclair by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after acquiring an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $55,000 after purchasing an additional 820 shares during the period. Royal Bank of Canada increased its stake in shares of Sinclair by 5.4% in the fourth quarter. Royal Bank of Canada now owns 17,001 shares of the company’s stock worth $261,000 after buying an additional 869 shares during the period. Kendall Capital Management increased its stake in shares of Sinclair by 3.8% in the third quarter. Kendall Capital Management now owns 26,495 shares of the company’s stock worth $400,000 after buying an additional 965 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.