Lamar Advertising Company Announces Cash Dividend on Common Stock

Rhea-AI Summary

Lamar Advertising Company (NASDAQ: LAMR) has declared a quarterly cash dividend of $0.75 per share, payable on March 31, 2021, to stockholders of record on March 22, 2021. The company anticipates total quarterly distributions for 2021 to reach $3.00 per common share, subject to board approval. With over 354,500 displays across North America, Lamar continues to support advertisers with a diverse range of out-of-home advertising options, including the largest network of digital billboards in the U.S.

Positive

• Quarterly cash dividend of $0.75 per share boosts shareholder income.
• Expecting total distributions of $3.00 per share for 2021 demonstrates company confidence.

Negative

• None.

BATON ROUGE, La., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces that its board of directors has declared a quarterly cash dividend of $0.75 per share payable on March 31, 2021 to stockholders of record of Lamar’s Class A common stock and Class B common stock on March 22, 2021. Subject to the approval of its board of directors, Lamar expects aggregate quarterly distributions to stockholders in 2021, including the dividend payable on March 31, 2021, will total $3.00 per common share.

Forward-Looking Statements
This press release contains “forward-looking statements” concerning Lamar Advertising Company’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in our forward-looking statements as a result of various factors, including those factors set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2019, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K ‎and as updated in our Annual Form 10-K for the year ended December 31, 2020 when filed‎. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 354,500 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with over 3,600 displays.

Company Contact:

Buster Kantrow
Director of Investor Relations
Lamar Advertising Company
(225) 926-1000
bkantrow@lamar.com

FAQ

What is the dividend amount declared by Lamar Advertising Company for March 2021?

Lamar Advertising Company has declared a quarterly cash dividend of $0.75 per share.

When will the dividend be paid to stockholders?

The dividend will be payable on March 31, 2021.

What is the record date for the dividend payment?

The record date for the dividend payment is March 22, 2021.

What is the total expected distribution for Lamar Advertising Company in 2021?

Lamar Advertising Company expects total distributions to shareholders to be $3.00 per common share in 2021.