GRAY ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.08 PER SHARE
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Insights
The announcement by Gray Television, Inc. of a quarterly cash dividend of $0.08 per share represents a tangible return to shareholders and is indicative of the company's current financial health and management's confidence in its ability to generate consistent cash flows. Dividends are often seen as a signal of a company's stability and maturity, as well as a commitment to returning value to shareholders. The key factors to consider in this context are the dividend yield, payout ratio and comparison to industry peers.
From an investor's perspective, the yield offered by Gray Television's dividend can be compared to the yields of other companies in the broadcasting and media sector to assess attractiveness. Additionally, the payout ratio, which is the percentage of earnings paid out as dividends, should be sustainable; a very high ratio may indicate potential strain on the company's reinvestment capabilities or future growth. It is also useful to look at the historical trend in Gray's dividend payments to evaluate the consistency and potential growth of dividends over time.
The declaration of a dividend can also have implications on the stock's market performance, as it may influence investor sentiment and stock demand. Dividends can attract income-focused investors, which can increase the stock's shareholder base and potentially stabilize the stock price. However, it is important to analyze the broader market conditions and sector-specific trends that might affect the broadcasting industry, such as advertising revenue cycles and shifts in consumer media consumption habits.
Furthermore, the timing of the dividend in relation to economic cycles can provide insight into the company's strategic financial planning. For instance, a company maintaining or increasing dividends during an economic downturn might be seen as particularly robust. Conversely, if the industry is facing significant headwinds, the dividend might be viewed as a defensive move to maintain investor loyalty despite potential challenges ahead.
ATLANTA, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of
About Gray Television:
We are a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets. Our television stations serve 113 television markets that collectively reach approximately 36 percent of US television households. This portfolio includes 79 markets with the top-rated television station and 102 markets with the first and/or second highest rated television station in 2023. We also own video program companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios. We own a majority interest in Swirl Films. For more information, please visit www.gray.tv.
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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Gray Contacts:
www.gray.tv.
Jim Ryan, Executive Vice President and Chief Financial Officer, (404) 504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, (404) 266-8333
FAQ
What dividend has Gray Television, Inc. (GTN) announced for its common stock and Class A common stock?
When is the dividend payable for Gray Television, Inc. (GTN) shareholders?
When is the record date for Gray Television, Inc. (GTN) shareholders to receive the dividend?
