Entravision Q1 Net Revs Down on Radio Decline

RADIO ONLINE | Thursday, May 4, 2017

Entravision Communications reported first quarter net revenue declined 1% to $57.5 million from $58.1 million in 2016. Of the overall decrease, $1.2 million was attributable to the company's radio segment which was down 7% to $15.7 million from $16.8 million -- mainly due to a decline in political advertising revenue. Operating income (OI) fell 5% to $8 million from $7.6 million. The company posted a net income rise of 15% to $2.6 million from $2.27 million.

The company also announced that its board of director has approved a quarterly cash dividend to shareholders of $0.03125 per share of Entravision's class A, class B and class U common stock, in an amount of $2.8 million. The quarterly dividend will be payable on June 30, 2017 to shareholders of record as of the close of business on June 15, 2017, and the common stock will trade ex-dividend on June 13.