Beasley Declares Dividend
December 6, 2013 at 12:20 PM (PT)
BEASLEY BROADCAST GROUP's Board of Directors has declared a cash dividend of $0.045 per share, payable on JANUARY 10th to shareholders of record on DECEMBER 27th.
Chairman/CEO GEORGE G. BEASLEY said "The re-initiation of a regular cash dividend reflects the free cash flow generated by our operations as well as our commitment to deliver value to our shareholders, and follows the one-time special dividend of $0.085 paid to shareholders in DECEMBER 2012. Importantly, taking into consideration the proposed annual capital allocated to dividend payments, based on current conditions we believe BEASLEY BROADCAST GROUP's total free cash flow should provide us with the liquidity needed to further reduce leverage, consider potential station acquisitions and to enhance long-term shareholder value."