Beasley Ups Quarterly Cash Dividend by 11.1%

RADIO ONLINE | Monday, March 5, 2018

Beasley Broadcast Group

Beasley Broadcast Group's board of directors have approved an 11.1 percent increase in the quarterly cash dividend to $0.05 per share of its Class A and Class B common stock beginning with the dividend declared for the first quarter of 2018. The dividend is payable on Friday, April 6, 2018, to shareholders of record on Friday, March 30.

CEO Caroline Beasley commented, "The increase in Beasley's cash dividend reflects the Board's commitment to creating value for shareholders and our success over the past year integrating the Greater Media properties into our platform. Our expanded operating scale and ongoing leverage reduction combined with the recurring benefit from the enactment of the Tax Cuts and Jobs Act is resulting in higher free cash flow, enabling us to increase our return of capital to shareholders and continue with our leverage reduction initiatives, while leaving us with the financial flexibility to pursue additional platform building initiatives including select accretive transactions."