Ex-Dividend Alert: Entercom Communications Has a Dividend Yield of 5.14%; Will Trade Ex-Dividend on June 12, 2018

LONDON, UK / ACCESSWIRE / June 11, 2018 / Active-Investors has a free review on Entercom Communications Corp. (NYSE: ETM) following the Company’s announcement that it will begin trading ex-dividend on June 12, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on June 11, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ETM:

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Dividend Declared

On May 22, 2018, Entercom announced that its Board of Directors has approved a quarterly dividend on its stock of $0.09 per share. The dividend is payable on June 28, 2018, to shareholders of record as of the close of business on June 13, 2018.

Entercom’s indicated dividend represents a yield of 5.14%, which was more than double compared to the average dividend yield of 1.94% for the Services sector.

Dividend Insights

Entercom has a dividend payout ratio of 38.3%, which means that the Company spends approximately $0.38 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Entercom is forecasted to report earnings of $1.32 per share for the next year, which is more than triple compared to the Company’s annualized dividend payout of $0.36 per share.

As of March 31, 2018, Entercom had outstanding $1.45 billion of senior debt under its credit facilities and $400 million in senior notes. In addition, the Company had $34.8 million in cash on hand. The Company’s balance sheet remains strong and is well positioned over the long-term to sustain its dividend distribution.

Recent Development for Entercom

On May 03, 2018, United States Traffic Network (USTN), the leading independent provider of broadcast traffic solutions in the US, announced that they have signed a new agreement with Entercom. The new deal includes an equity position for Entercom in USTN. Further terms of the transaction were not disclosed.

About Entercom Communications Corp.

Entercom is a leading American media and entertainment company reaching and engaging over 100 million people each week through its premier collection of highly rated, award winning radio stations, digital platforms and live events. As one of the United States’ two largest radio broadcasters, Entercom offers integrated marketing solutions and delivers the power of local connection on a national scale with coverage of close to 90% of persons 12+ in the top 50 markets.

Stock Performance Snapshot

June 08, 2018 – At Friday’s closing bell, Entercom Communications’ stock was marginally up 0.73%, ending the trading session at $6.90.

Volume traded for the day: 1.47 million shares.

After last Friday’s close, Entercom Communications’ market cap was at $988.91 million.

The stock has a dividend yield of 5.22%.

The stock is part of the Services sector, categorized under the Broadcasting – Radio industry. This sector was up 0.4% at the end of the session.

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