Lamar Advertising Company Announces Increase In Cash Dividend on Common Stock

Rhea-AI Summary

Lamar Advertising Company (NASDAQ: LAMR) announced a quarterly cash dividend of $1.20 per share, payable on June 30, 2022, to stockholders of record as of June 20, 2022. This follows the previously paid dividend of $1.10 on March 31, 2022. For 2022, the expected total distributions to stockholders will be $4.70 per common share, subject to board approval. Lamar operates over 356,000 advertising displays across North America, including a vast network of digital billboards.

Positive

• Quarterly cash dividend of $1.20 announced, enhancing shareholder income.
• Total expected distributions for 2022 projected at $4.70 per share, indicating company confidence and financial health.

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• None.

BATON ROUGE, La., May 19, 2022 (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 $1.20 per share payable on June 30, 2022 to stockholders of record of Lamar’s Class A common stock and Class B common stock on June 20, 2022. Subject to the approval of its board of directors, Lamar expects aggregate quarterly distributions to stockholders in 2022, including the $1.10 per share dividend paid on March 31, 2022, will total $4.70 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, 2021, 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 over 356,000 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 over 4,000 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 LAMR?

Lamar Advertising Company declared a quarterly cash dividend of $1.20 per share.

When will the LAMR dividend be paid?

The dividend will be paid on June 30, 2022.

What is the record date for the LAMR dividend?

The record date for the dividend is June 20, 2022.

What is the total expected dividend for LAMR in 2022?

The total expected distributions for 2022 are $4.70 per share.