Newcap Revenue, Profit Up For Second Quarter
August 11, 2016 at 2:55 PM (PT)
NEWCAP second quarter 2016 revenue rose 4% to C$44.2 million, credited to growth in the TORONTO and OTTAWA markets, while EBITDA grew 11% to C$13.8 million and profit jumped 38% to C$8.4 million. The company's board also approved an increase in dividends from C$0.15 to C$0.20 per share per annum, and declared a dividend of $0.10 per share on each of the Company's Class A Subordinate Voting Shares and Class B Common Shares payable on SEPTEMBER 15th to shareholders of record as of AUGUST 31st.
"The Company's success in the second quarter was a result of strong listener ratings that allowed us to grow revenue and EBITDA," said President/CEO ROB STEELE. "We are pleased with the Company's overall results as many of our stations outperformed their respective markets, helping to compensate for certain regions where we have faced challenges this year."