Citadel to Start Paying Regular Dividends

CITADEL BROADCASTING's board has decided to start paying regular quarterly dividends of 18 cents/share of common stock. The first such quarterly divident will be paid JANUARY 18, 2006 to shareholders of record as of NOVEMBER 30, 2005. 

Chairman/CEO FARID SULEMAN said that "(t)he regular quarterly dividend recognizes the Company's significant free cash flow and underscores the Company's commitment to enhance shareholder value. At the same time, we will continue to have the financial flexibility to invest in strategic opportunities."

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