Salem Declares Special Cash Dividend
November 16, 2010 at 12:59 PM (PT)
SALEM COMMUNICATIONS CORPORATION's Board of Directors has declared a special cash dividend of 20 cents per share on its Class A and Class B common stock to be paid on DECEMBER 13th to shareholders of record at the close of business on DECEMBER 6th.
CEO ED ATSINGER said, "This year, despite challenges facing the broadcast sector, SALEM COMMUNICATIONS continues to generate free cash flow and bring incremental value to our shareholders. After considering available options, our board of directors determined that this special dividend of approximately $0.20 per share was the best way to benefit our shareholders."