3-10-2012
Salem says its Board of Directors declared a recurring, quarterly, cash dividend of $0.035 per share on its Class A and Class B common stock to be paid in March, June, September and December of each year. The initial dividend will be paid on March 30th to all common stockholders of record as of March 23rd.
Salem CEO Ed Atsinger said, ? We are pleased to be in a position where we can begin to return a portion of our free cash flow to our shareholders on a regular basis while continuing to systematically reduce our debt. This recurring dividend demonstrates our confidence in our resilient business model and our ability to maintain strong free cash flow.?
