Nexstar Raises Quarterly Cash Dividend By 29%
Nexstar Media Group said today that its board of directors approved a 29% increase in the quarterly cash dividend to $0.90 per share of its Class A common stock beginning with the dividend declared for the first quarter of 2022. The dividend is payable on Monday, Feb. 28, to shareholders of record on Friday, Feb. 11.
Perry Sook, Nexstar CEO, said: “Nexstar’s ninth consecutive annual dividend increase represents a compound annual growth rate of 25% since the dividend was initiated in 2013. Our capital allocation priorities remain focused on creating near- and long-term shareholder value by deploying our free cash flow through a mix of debt repayments, share repurchases, dividend payments and strategic investments and acquisitions.”