Salem Communications is the largest commercial U.S. radio broadcasting company providing programming targeted at audiences interested in Christian and conservative values. In addition to its radio properties, the company owns Salem Radio Network®, which syndicates programming to approximately 2,000 affiliates; Salem Radio Representatives™, a national radio advertising sales force; Salem Web Network™, a leading Internet provider of Christian content and online streaming; and Salem Publishing™, a leading publisher of Christian-themed magazines.
Salem currently owns and/or operates a national portfolio of 96 radio stations in 37 markets, 60 of which are in 22 of the nation’s top 25 radio markets. Notably, through a recently forged partnership with TunIn, the company has extended the reach of their programming to more than 30 million monthly active listeners in over 230 countries around the world. All of Salem’s stations are now available through a variety of different platforms including smartphone apps, connected vehicle dashboards, Internet home entertainment systems, and more.
On March 8, 2012, Salem declared a quarterly dividend of $0.035 per share of its Class A and Class B common stock. The first dividend (approx. 5% yield on announcement) was paid on March 30, 2012, to all common stockholders of record as of March 23, 2012. The recurring dividend is a strong demonstration of the company’s confidence in its resilient business model and management’s ability to maintain significant free cash flow. Dividends are expected to be issued in March, June, September, and December of each year.
Last week, the company told investors its plans to report first quarter 2012 financial results after the market closes on May 3, 2012. A teleconference will be hosted to discuss the results at 5:00pm Eastern Time. Those wishing to access the call should dial (719) 325-2289 , then enter passcode 7084153, or listen in via the investor relations portion of Salem’s website. Expectations from investors are high as the company has outperformed the overall radio industry in 9 of the last 10 years.
To learn more about the company, visit www.salem.cc
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