Salem Stockholders Elect Board
May 30, 2013 at 2:45 PM (PT)
At its annual meeting of stockholders on MAY 22nd, SALEM COMMUNICATIONS CORP. stockholders elected all seven nominees to the company board and approved two non-binding proposals that gave thumbs-up to executive compensation as well as the practice of making non-binding votes on compensation every three years.
ED ATSINGER, STUART EPPERSON, DAVID DAVENPORT, ROLAND S. HINZ, RICHARD RIDDLE, JONATHAN VENVERLOH and FRANK WRIGHT were elected to one-year terms on the board.
The Board of Directors also declared a cash distribution for the second quarter of 2013 in the amount of $0.05 per share of its Class A and Class B common stock. The cash distribution will be paid on JUNE 28th to all common stockholders of record as of JUNE 14th.