Nexstar Media Group Raises Quarterly Cash Dividend By 25%

The jump to $1.69 per share represents a 3.8% annualized yield and marks the 11th consecutive annual cash dividend increase.

Nexstar Media Group’s board of directors approved a 25% increase to its quarterly cash dividend to $1.69 per share beginning with the dividend declared for the first quarter of 2024. The dividend is payable on Friday, Feb. 23, to shareholders of record on Friday, Feb. 9.

Perry Sook, Nexstar Media Group’s founder, chairman and chief executive officer, said: “Nexstar’s strong free cash flow generation continues to support our long-standing commitment to delivering increased returns to our shareholders. The eleventh consecutive annual increase in our cash dividend, combined with our opportunistic share repurchase activity, reflects our continued confidence in Nexstar’s business model, competitive positioning and growth opportunities.”

Comments (3)

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AIMTV says:

January 26, 2024 at 9:32 am

Cash Dividends = Cheap Programming + Short Staffs = Continued Doom Spiral. Broadcast TV needs visionaries, not even wealthier owners.

OldSchool says:

January 26, 2024 at 4:01 pm

Like them or not they have delivered for their shareholders for a number of years. Perry Sook definitely qualifies as a wealthy owner but some will say he has earned that right. However I do agree with AIMTV that our industry both in front and behind the camera is on a treadmill to oblivion.

Dave Kovic says:

January 27, 2024 at 10:59 am

….and yet so many local station employees are given 1%, 2% and 3% raises and are told that’s all they are allowed to get.