Nexstar Media Group, Inc. (NASDAQ:NXST) Announces Quarterly Dividend of $1.86

Key Points

• Nexstar declared a quarterly dividend of $1.86 per share, payable May 29 to shareholders of record on May 15 (ex-dividend date May 15), implying a 3.7% yield.
• The company has increased its dividend for 12 consecutive years (averaging a 0.3% annual rise over the past three years) and currently has a payout ratio of 28.3%, forecast to be about 41.9% next year based on projected EPS of $17.77.
• Shares fell roughly 2.8% to $202.37 on the news; Nexstar has a market capitalization of about $6.14 billion and a trailing P/E near 68.8.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) declared a quarterly dividend on Friday, May 1st. Shareholders of record on Friday, May 15th will be given a dividend of 1.86 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, May 15th.

Nexstar Media Group has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 12 years. Nexstar Media Group has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nexstar Media Group to earn $17.77 per share next year, which means the company should continue to be able to cover its $7.44 annual dividend with an expected future payout ratio of 41.9%.

Nexstar Media Group Trading Down 2.8%

Shares of Nexstar Media Group stock traded down $5.77 during mid-day trading on Friday, hitting $202.37. 263,687 shares of the stock were exchanged, compared to its average volume of 392,362. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 68.83, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. Nexstar Media Group has a twelve month low of $146.06 and a twelve month high of $254.30. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The company has a 50-day simple moving average of $215.57 and a 200 day simple moving average of $207.69.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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