Nexstar Media Group Declares Quarterly Cash Dividend of $1.69 Per Share, Announces New $1.5 Billion Share Repurchase Authorization
Nexstar Media Group (NASDAQ: NXST) has announced two significant financial decisions. Firstly, the company declared a quarterly cash dividend of $1.69 per share, payable on August 23, 2024, to shareholders of record as of August 9, 2024. Secondly, the Board of Directors approved a new $1.5 billion share repurchase program. This authorization is in addition to the existing program announced in July 2022, which had $496 million remaining as of May 8, 2024.
While Nexstar intends to continue paying regular quarterly dividends, future payments will be subject to quarterly review and Board approval. The share repurchase program will be executed at the Board's discretion, subject to regulatory limitations.
Nexstar Media Group (NASDAQ: NXST) ha annunciato due decisioni finanziarie significative. Innanzitutto, la società ha dichiarato un dividendo in contante trimestrale di $1,69 per azione, che sarà pagato il 23 agosto 2024 agli azionisti registrati al 9 agosto 2024. In secondo luogo, il Consiglio di Amministrazione ha approvato un nuovo programma di riacquisto di azioni da $1,5 miliardi. Questa autorizzazione si aggiunge al programma esistente annunciato a luglio 2022, che aveva $496 milioni rimanenti a partire dall'8 maggio 2024.
Sebbene Nexstar intenda continuare a pagare dividendi trimestrali regolari, i pagamenti futuri saranno soggetti a revisione trimestrale e approvazione del Consiglio. Il programma di riacquisto di azioni sarà eseguito a discrezione del Consiglio, nel rispetto delle limitazioni normative.
Nexstar Media Group (NASDAQ: NXST) ha anunciado dos decisiones financieras significativas. En primer lugar, la empresa declaró un dividendo en efectivo trimestral de $1.69 por acción, que se pagará el 23 de agosto de 2024 a los accionistas registrados al 9 de agosto de 2024. En segundo lugar, la Junta Directiva aprobó un nuevo programa de recompra de acciones de $1.5 mil millones. Esta autorización se suma al programa existente anunciado en julio de 2022, que tenía $496 millones restantes a partir del 8 de mayo de 2024.
Aunque Nexstar tiene la intención de continuar pagando dividendos trimestrales regulares, los pagos futuros estarán sujetos a revisión trimestral y aprobación de la Junta. El programa de recompra de acciones se llevará a cabo a discreción de la Junta, sujeto a limitaciones regulatorias.
Nexstar Media Group (NASDAQ: NXST)는 두 가지 중요한 재정 결정을 발표했습니다. 첫째, 회사는 주당 $1.69의 분기 현금 배당금을 선언했으며, 2024년 8월 23일에 2024년 8월 9일 기준 주주에게 지급될 예정입니다. 둘째, 이사회는 15억 달러의 새로운 자사주 매입 프로그램을 승인했습니다. 이 승인은 2022년 7월에 발표된 기존 프로그램에 추가되는 것으로, 2024년 5월 8일 기준으로 $4억 9천 6백만 달러가 남아있었습니다.
Nexstar가 정기적인 분기 배당금을 계속 지급할 계획이지만, 향후 지급은 분기별 검토 및 이사회 승인을 받을 것입니다. 자사주 매입 프로그램은 이사회 재량으로 시행되며, 규제 제한 사항을 준수해야 합니다.
Nexstar Media Group (NASDAQ: NXST) a annoncé deux décisions financières importantes. Premièrement, la société a déclaré un dividende en espèces trimestriel de 1,69 $ par action, payable le 23 août 2024 aux actionnaires enregistrés au 9 août 2024. Deuxièmement, le Conseil d'administration a approuvé un nouveau programme de rachat d'actions de 1,5 milliard $. Cette autorisation s'ajoute au programme existant annoncé en juillet 2022, qui avait encore 496 millions $ restants au 8 mai 2024.
Bien que Nexstar ait l'intention de continuer à verser des dividendes trimestriels réguliers, les paiements futurs seront soumis à un examen trimestriel et à l'approbation du Conseil. Le programme de rachat d'actions sera exécuté à la discrétion du Conseil, sous réserve des limitations réglementaires.
Nexstar Media Group (NASDAQ: NXST) hat zwei bedeutende finanzielle Entscheidungen bekannt gegeben. Erstens hat das Unternehmen eine vierteljährliche Barausschüttung von 1,69 $ pro Aktie erklärt, die am 23. August 2024 an Aktionäre ausgezahlt wird, die am 9. August 2024 im Aktienregister stehen. Zweitens hat der Vorstand ein neues Aktienrückkaufprogramm über 1,5 Milliarden $ genehmigt. Diese Genehmigung kommt zusätzlich zu dem bestehenden Programm, das im Juli 2022 angekündigt wurde und zum 8. Mai 2024 noch 496 Millionen $ betrug.
Obwohl Nexstar beabsichtigt, weiterhin regelmäßige vierteljährliche Dividenden zu zahlen, werden zukünftige Zahlungen einer vierteljährlichen Überprüfung und Genehmigung durch den Vorstand unterzogen. Das Aktienrückkaufprogramm wird nach Ermessen des Vorstands unter Berücksichtigung regulatorischer Einschränkungen umgesetzt.
- Declared quarterly cash dividend of $1.69 per share
- Authorized new $1.5 billion share repurchase program
- $496 million remaining from previous share repurchase program
- None.
Nexstar Media Group's latest financial moves signal a robust commitment to shareholder value. The declared
The dividend payout demonstrates consistency in Nexstar's shareholder remuneration strategy. At current share prices, this translates to an annualized yield of approximately
However, the real story here is the share repurchase authorization. With
The magnitude of this buyback program suggests management's confidence in Nexstar's financial health and future prospects. It also indicates that the board views the current share price as undervalued relative to the company's intrinsic worth. Investors should note that such large repurchase programs can provide a floor for the stock price and potentially drive it higher.
While these capital return initiatives are positive for shareholders, they also raise questions about Nexstar's growth strategy. Such substantial buybacks might suggest organic growth opportunities or a lack of attractive acquisition targets in the current market. Investors should monitor how this capital allocation decision impacts the company's ability to invest in future growth initiatives or navigate potential industry disruptions.
Nexstar's dividend declaration and share repurchase authorization offer intriguing insights into the broader media landscape. This move comes at a time when traditional media companies are grappling with the shift to streaming and digital platforms, making Nexstar's financial strategy particularly noteworthy.
The company's ability to maintain a substantial dividend while simultaneously committing to large-scale share repurchases suggests a strong cash flow position. This financial strength is somewhat atypical in the current media environment, where many players are investing heavily in content and technology to compete in the streaming wars.
Nexstar's focus on returning capital to shareholders could be interpreted in two ways:
- It may indicate a mature business model with growth prospects, choosing to reward shareholders rather than reinvest in the business.
- Alternatively, it could suggest that Nexstar has found a sustainable niche in the evolving media landscape, possibly through its local TV station portfolio and NewsNation network.
The media industry is currently experiencing consolidation and transformation. Nexstar's strong financial position could potentially make it an attractive partner or acquirer in future deals. However, the substantial share repurchase program might also be seen as a defensive move, making the company a more expensive acquisition target.
Investors should consider how Nexstar's strategy compares to its peers. While some media companies are prioritizing content investment and digital transformation, Nexstar appears to be taking a more shareholder-friendly approach. This could attract value investors but may raise questions about long-term growth prospects in a rapidly changing industry.
While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.
The share repurchase authorization will be executed at the Board’s discretion and any share repurchases are subject to regulatory limitations.
About Nexstar Media Group, Inc.
Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 310,000 hours of programming produced annually by its business units. Nexstar owns America’s largest local television broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 117 U.S. markets reaching 220 million people. Nexstar’s national television properties include The CW, America’s fifth major broadcast network, NewsNation, our national news network providing “News for All America,” popular entertainment multicast networks Antenna TV and Rewind TV, and a
View source version on businesswire.com: https://www.businesswire.com/news/home/20240726788994/en/
Investor:
Lee Ann Gliha
Executive Vice President and Chief Financial Officer
Nexstar Media Group, Inc.
972/373-8800
Joseph Jaffoni or Jennifer Neuman
JCIR
212/835-8500 or nxst@jcir.com
Media:
Gary Weitman
EVP and Chief Communications Officer
972/373-8800
gweitman@nexstar.tv
Source: Nexstar Media Group, Inc.
FAQ
When will Nexstar Media Group (NXST) pay its next dividend?
How much is Nexstar Media Group's (NXST) new share repurchase authorization?
What is the remaining amount from Nexstar Media Group's (NXST) previous share repurchase program?