Lamar Advertising Company Announces Cash Dividend on Common Stock

Rhea-AI Summary

Lamar Advertising Company (Nasdaq: LAMR) has declared a quarterly cash dividend of $1.30 per share for its Class A and Class B common stock. The dividend is payable on June 28, 2024, to shareholders of record on June 17, 2024. Lamar anticipates that the total quarterly dividends for 2024 will be at least $5.20 per share, pending board approval.

Positive

• Quarterly cash dividend of $1.30 per share declared.
• Dividend payable date set for June 28, 2024.
• Total anticipated quarterly dividends for 2024 projected at $5.20 per share.

Negative

• Potential risk if board does not approve future dividends.
• Dividend payments might limit reinvestment opportunities.

BATON ROUGE, La., May 16, 2024 (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 $1.30 per share payable on June 28, 2024 to stockholders of record of Lamar’s Class A common stock and Class B common stock on June 17, 2024. Subject to the approval of its board of directors, Lamar expects aggregate quarterly distributions to stockholders in 2024, including the dividend payable on June 28, 2024, will be at least $5.20 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, 2023, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K‎. 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 more than 360,000 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 approximately 4,800 displays.

Company Contact:

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

FAQ

What dividend did Lamar Advertising Company declare for June 2024?

Lamar Advertising Company declared a quarterly cash dividend of $1.30 per share payable on June 28, 2024.

When is the record date for Lamar Advertising Company's June 2024 dividend?

The record date for Lamar Advertising Company's June 2024 dividend is June 17, 2024.

What is the expected total quarterly dividend payout for Lamar Advertising Company in 2024?

Lamar Advertising Company expects the total quarterly dividend payout for 2024 to be at least $5.20 per share, pending board approval.

What is the stock symbol for Lamar Advertising Company?

The stock symbol for Lamar Advertising Company is LAMR.