Nexstar Broadcasting Group Declares Quarterly Cash Dividend of $0.24 Per Share
April 22 2016 - 7:04AM
Business Wire
Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today
that its Board of Directors declared a quarterly cash dividend of
$0.24 per share of its Class A common stock. The dividend is
payable on Friday, May 27, 2016, to shareholders of record on
Friday, May 13, 2016.
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.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group is a leading diversified media
company that leverages localism to bring new services and value to
consumers and advertisers through its traditional media, digital
and mobile media platforms. Nexstar owns, operates, programs or
provides sales and other services to 103 television stations and 54
low power and digital multicast signals reaching 62 markets or
approximately 18.0% of all U.S. television households. Nexstar’s
portfolio includes primary affiliates of NBC, CBS, ABC, FOX,
MyNetworkTV and The CW and multicast affiliates of Telemundo,
Bounce TV, Me-TV, LATV, Estrella, This TV, Weather Nation Utah,
Movies! and News/Weather. Nexstar’s community portal websites offer
additional hyper-local content and verticals for consumers and
advertisers, allowing audiences to choose where, when and how they
access content while creating new revenue opportunities.
Pro-forma for the completion of all announced transactions
Nexstar will own, operate, program or provide sales and other
services to 171 television stations and their related low power and
digital multicast signals reaching 100 markets or approximately 39%
of all U.S. television households. For more information please
visit www.nexstar.tv.
Forward-Looking Statements
This communication includes forward-looking statements. We have
based these forward-looking statements on our current expectations
and projections about future events. Forward-looking statements
include information preceded by, followed by, or that includes the
words "guidance," "believes," "expects," "anticipates," "could," or
similar expressions. For these statements, Nexstar claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this communication,
concerning, among other things, the ultimate outcome and benefits
of any possible transaction between Nexstar and Media General and
timing thereof, and future financial performance, including changes
in net revenue, cash flow and operating expenses, involve risks and
uncertainties, and are subject to change based on various important
factors, including the timing to consummate the proposed
transaction; the risk that a condition to closing of the proposed
transaction may not be satisfied and the transaction may not close;
the risk that a regulatory approval that may be required for the
proposed transaction is delayed, is not obtained or is obtained
subject to conditions that are not anticipated, the impact of
changes in national and regional economies, the ability to service
and refinance our outstanding debt, successful integration of Media
General (including achievement of synergies and cost reductions),
pricing fluctuations in local and national advertising, future
regulatory actions and conditions in the television stations'
operating areas, competition from others in the broadcast
television markets, volatility in programming costs, the effects of
governmental regulation of broadcasting, industry consolidation,
technological developments and major world news events. Unless
required by law, Nexstar undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
in this communication might not occur. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. For more details on factors that could
affect these expectations, please see Media General’s and Nexstar’s
filings with the Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20160422005142/en/
Nexstar Broadcasting Group, Inc.Thomas E. Carter,
972-373-8800Chief Financial OfficerorJCIRJoseph Jaffoni, Jennifer
Neuman212-835-8500nxst@jcir.com
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