Salem Increases Cash Distribution

Ups Dividend

SALEM COMMUNICATIONS CORP. has announced an increase in its quarterly cash distribution from 5 to 5 1/4 cents/share, payable OCTOBER 4th to Class A and Class B common stockholders of record as of SEPTEMBER 26th.

CEO ED ATSINGER said, "This increase in our cash distribution is in response to our growing free cash flow stemming from both our refinancing that was completed in MARCH and from our operations, particularly the growth in our Internet division."

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