GRAY ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.08 PER SHARE

Rhea-AI Summary

Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for both common and Class A common stock. This dividend is scheduled for payment on March 31, 2022, to shareholders on record as of March 15, 2022.

As the largest owner of local television stations in the U.S., Gray serves 113 markets, reaching approximately 36% of U.S. television households, including numerous top-rated stations.

Positive

• Quarterly cash dividend of $0.08 per share supports shareholder returns.
• Gray is the largest owner of local television stations, indicating strong market position.

Negative

• Potential risk in future dividend payments as highlighted in forward-looking statements.

ATLANTA, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on March 31, 2022, to shareholders of record at the close of business on March 15, 2022.

About Gray Television:

Gray Television is a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets in the United States. Our television stations serve 113 television markets that collectively reach approximately 36 percent of US television households.  This portfolio includes 80 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station. We also own video program companies Raycom Sports, Tupelo Honey, PowerNation Studios and Third Rail Studios.

Forward-Looking Statements:

This press release contains certain forward-looking statements that are based largely on Gray’s current expectations and reflect various estimates and assumptions by Gray. These statements are statements other than those of historical fact and may be identified by words such as “estimates”, “expect,” “anticipate,” “will,” “implied,” “assume” and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond Gray’s control include Gray’s inability to provide expected future payment of dividends, and other future events. Gray is subject to additional risks and uncertainties described in Gray’s quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the “Risk Factors,” and management’s discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, www.gray.tv. Any forward-looking statements in this communication should be evaluated in light of these important risk factors. This press release reflects management’s views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this communication beyond the date hereof, whether as a result of new information, future events or otherwise.

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FAQ

What is the dividend amount for Gray Television (GTN)?

Gray Television has declared a quarterly cash dividend of $0.08 per share.

When is the dividend payable for GTN and GTN-A?

The dividend is payable on March 31, 2022.

What is the record date for the GTN dividend?

Shareholders must be on record by March 15, 2022, to receive the dividend.

How often does Gray Television pay dividends?

Gray Television pays dividends on a quarterly basis.

What are the potential risks associated with Gray Television's dividend?

There are risks regarding future dividend payments, as stated in the company's forward-looking statements.