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Entravision Q4 Net Revenue Down 4%, Approves Dividend
RADIO ONLINE | Thursday, March 5, 2020 |
Entravision reported fourth quarter net revenue decreased 14% to $70.8 million from $82.1 million in 2018. Of the overall decrease, approximately $2.9 million was attributable to its radio segment and $8.8 million to its television segment. Cost of revenue in its digital media segment grew 5% to $10.3 million from $9.8 million. Operating expenses fell 1% to $44.2 million from $44.6 million, while operating income was down 50% to 8.7 million from $17.4 million. The company posted a net income gain of 6% to $7.3 million from $6.9 million in the year-ago period.
The company also announced that its board of directors has approved a quarterly cash dividend to shareholders of $0.05 per share of the company's Class A, Class B and Class U common stock, of approximately $4.2 million. The quarterly dividend will be payable on March 31, 2020 to shareholders of record as of the close of business on March 16, 2020, and the common stock will trade ex-dividend on March 13.
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