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Entravision Q4 Net Revenues Up 10%, Earnings Down
RADIO ONLINE | Tuesday, May 7, 2019 |
Entravision Communications reported Q4 net revenue rose 10% to $80.9 million from $73.4 million in 2017. Free cash flow grew 109% to $12.2 million from $5.8 million. The company reported a net income of $6.9 million (8 cents per diluted share), down 46% from $12.7 million (14 cents) in the year-ago period.
The company also revealed that its board of directors has approved a quarterly cash dividend to shareholders of $0.05 per share of its Class A, Class B and Class U common stock in the amount of $4.3 million. The quarterly dividend will be payable on June 28, 2019 to shareholders of record as of the close of business on June 14, 2019, and the common stock will trade ex-dividend on June 13.
As previously disclosed by Entravision, on April 3 it received a notice from the New York Stock Exchange that it was not in compliance with the NYSE's continued listing requirements. With its filing of the Form 10-K with the SEC, the company believes it has with the SEC. With today's filing of the Form 10-K with the SEC, Entravision believes it has regained compliance.
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