Lamar Advertising Company Declares Cash Dividend on Common Stock and Plans for Additional Quarterly Distributions
Lamar Advertising Company, a prominent player in the outdoor advertising and logo sign displays industry, has recently announced that its board of directors has approved a quarterly cash dividend of $1.30 per share.This dividend will be paid on March 28, 2024, to stockholders of record for both Class A and Class B common stock of the company on March 15, 2024.
With hopes to provide attractive returns to its shareholders, Lamar Advertising Company expects that the total aggregate quarterly distribution to stockholders in 2024 will amount to $5.20 per common share.However, these projections are subject to the approval of the company’s board of directors.
Analyzing the company’s dividend pay-out ratio, it was observed that in the third quarter of 2023, Lamar Advertising Co experienced an increase in the ratio to 130.03, indicating a higher proportion of earnings being disbursed as dividends.Nevertheless, this ratio remained below the industry’s average, suggesting room for further potential growth.
When compared to its peers in the Financial sector, Lamar Advertising Co performed relatively well but fell behind 83 companies with a higher 12 Months dividend pay-out ratio.In terms of overall performance, Lamar Advertising Co ranked higher than 161 companies in the second quarter of 2023, securing the 161st position.
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