Beasley Broadcast Group Declares Quarterly Cash Dividend of $0.045 Per Share
May 26 2016 - 1:30PM
Beasley Broadcast Group, Inc. (Nasdaq:BBGI) (“the Company”), a
large- and mid-size market radio broadcaster, announced today that
its Board of Directors declared a quarterly cash dividend of $0.045
per share of its Class A and Class B common stock. The
dividend is payable on July 8, 2016, to shareholders of record on
June 30, 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 Beasley Broadcast
GroupFounded in 1961, Beasley Broadcast Group, Inc.,
www.bbgi.com, is a radio broadcasting company that owns and
operates 52 stations (34 FM and 18 AM) located in twelve large- and
mid-size markets in the United States.
Note Regarding Forward-Looking
Statements:Statements in this release
that are “forward-looking statements” are based upon current
expectations and assumptions, and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words or expressions such as
“intends,” “expects,” “expected,” “anticipates” or variations of
such words and similar expressions are intended to identify such
forward-looking statements. Key risks are described in our
reports filed with the SEC including in our Annual Report on Form
10-K for the year ended December 31, 2015. Readers should
note that forward-looking statements are subject to change and to
inherent risks and uncertainties and may be impacted by several
factors, including: external economic forces that could have a
material adverse impact on our advertising revenues and results of
operations; our radio stations may not be able to compete
effectively in their respective markets for advertising revenues;
we may not remain competitive if we do not respond to changes in
technology, standards and services that affect our industry; our
substantial debt levels; and, the loss of key personnel. Our
actual performance and results could differ materially because of
these factors and other factors discussed in the “Management’s
Discussion and Analysis of Results of Operations and Financial
Condition” in our SEC filings, including but not limited to annual
reports on Form 10-K or quarterly reports on Form 10-Q, copies of
which can be obtained from the SEC, www.sec.gov, or our website,
www.bbgi.com. All information in this release is as of May
26, 2016, and we undertake no obligation to update the information
contained herein to actual results or changes to our
expectations.
CONTACT:
B. Caroline Beasley, Chief Financial Officer
Beasley Broadcast Group, Inc.
239/263-5000; email@bbgi.com
Joseph N. Jaffoni
JCIR
212/835-8500 or bbgi@jcir.com
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