Entravision Increases Quarterly Cash Dividend by 100%

Rhea-AI Summary

Entravision (NYSE:EVC) has announced a quarterly cash dividend of $0.05 per share, doubling its previous dividend of $0.025. This marks a return to pre-pandemic levels with an expected payout of approximately $4.4 million. The dividend is payable on March 31, 2023, to shareholders on record as of March 16, 2023, with the stock trading ex-dividend on March 15, 2023. Interim CEO Chris Young emphasized the strong cash position and confidence in sustainable growth as key factors driving this decision, showcasing a commitment to balanced capital allocation.

Positive

• Quarterly cash dividend increased to $0.05 per share, doubling from $0.025.
• Return to pre-pandemic dividend levels, indicating financial recovery.
• Approximately $4.4 million payout reflects confidence in cash position.
• 41 consecutive dividends paid over the past 13 years indicates stability.

Negative

• None.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced that its Board of Directors approved a quarterly cash dividend to shareholders of $0.05 per share of the Company's Class A, Class B and Class U common stock. This reflects a doubling of its previous quarterly dividend of $0.025 in 2022 and returns the dividend to its pre-pandemic level. The Company anticipates an aggregate payout amount of approximately $4.4 million.

This quarterly dividend is payable on March 31, 2023 to shareholders of record as of the close of business on March 16, 2023, and the common stock will trade ex-dividend on March 15, 2023. The Company currently anticipates that future cash dividends will be paid on a quarterly basis; however, any decision to pay future cash dividends will be subject to approval by the Board.

“We are pleased to increase our quarterly cash dividend, which represents the 41st consecutive dividend we have paid to our shareholders over the past 13 years,” said Chris Young, Interim Chief Executive Officer, and Chief Financial Officer & Treasurer. “Increasing our dividend reflects the strength of our cash position and our Board’s confidence in our ability to drive sustainable profitable growth. We will continue to execute on our balanced capital allocation strategy, including deploying capital to investments that will fuel our growth.”

About Entravision

Entravision is a leading global advertising solutions, media and technology company connecting brands to consumers by representing top platforms and publishers. Our dynamic portfolio includes digital, television and audio offerings. Digital, our largest revenue segment, comprises four business units: our digital sales representation business; Smadex, our programmatic ad purchasing platform; our branding and mobile performance solutions business; and our digital audio business. Through our digital sales representation business, we connect global media companies such as Meta, Twitter, TikTok and Spotify with advertisers in primarily emerging growth markets worldwide. Smadex is our mobile-first demand side platform, enabling advertisers to execute performance campaigns using machine learning. We also offer a branding and mobile performance solutions business, which provides managed services to advertisers looking to connect with global consumers, primarily on mobile devices, and our digital audio business provides digital audio advertising solutions for advertisers in the Americas. In addition to digital, Entravision has 49 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 45 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230203005130/en/

Entravision

Investors:

Christopher T. Young

Interim Chief Executive Officer / Chief Financial Officer & Treasurer

310-447-3870

Kimberly Esterkin

Addo Investor Relations

evc@addo.com

310-829-5400

Source: Entravision

FAQ

What is the latest dividend amount for Entravision (EVC)?

Entravision (EVC) announced a quarterly cash dividend of $0.05 per share.

When is the dividend payable for Entravision (EVC)?

The dividend is payable on March 31, 2023.

What was Entravision's previous dividend before the increase?

The previous dividend was $0.025 per share.

What date will Entravision (EVC) trade ex-dividend?

Entravision will trade ex-dividend on March 15, 2023.

How many consecutive dividends has Entravision paid?

Entravision has paid 41 consecutive dividends over the past 13 years.