Lamar Advertising announces a quarterly cash dividend of $1.40 and a special dividend of $0.25 per share.
Quiver AI Summary
Lamar Advertising Company has announced a quarterly cash dividend of $1.40 per share and a special cash dividend of $0.25 per share, both payable on December 30, 2024, to stockholders of record as of December 18, 2024. This decision was made by the company's board of directors. Lamar, founded in 1902, is a leading outdoor advertising firm in North America, operating over 360,000 displays, including the largest network of digital billboards in the U.S. The press release also contains forward-looking statements, emphasizing that actual results may differ from expectations due to various factors.
Potential Positives
- Lamar Advertising Company declares a quarterly cash dividend of $1.40 per share, demonstrating strong financial health and commitment to returning value to shareholders.
- Additionally, the company announces a special cash dividend of $0.25 per share, which may attract more investors looking for income-generating investments.
- The press release highlights Lamar's position as one of the largest outdoor advertising companies in North America, enhancing its credibility and market presence.
- Lamar's network of over 4,800 digital billboards positions it competitively in the advertising market, appealing to modern advertising needs.
Potential Negatives
- The need to include a disclaimer about forward-looking statements may raise concerns among investors about the company's future performance and the reliability of its projections.
- The declaration of a special cash dividend could be perceived as an indication that the company may not have sufficient reinvestment opportunities for growth, potentially signaling stagnant growth prospects.
- Despite the dividends announced, the lack of detail on the company’s recent operating results or future strategies may lead to uncertainty among investors about its financial health and market position.
FAQ
What is the cash dividend declared by Lamar Advertising Company?
Lamar Advertising Company has declared a quarterly cash dividend of $1.40 per share and a special cash dividend of $0.25 per share.
When will the dividends be paid to stockholders?
The dividends will be payable on December 30, 2024, to stockholders of record on December 18, 2024.
What are the main advertising formats offered by Lamar Advertising?
Lamar Advertising offers billboards, interstate logo signs, transit, and airport advertising formats, along with digital billboard displays.
How many displays does Lamar Advertising operate?
Lamar Advertising operates over 360,000 displays across the United States and Canada.
What is the significance of forward-looking statements in the press release?
Forward-looking statements provide insights about Lamar's expectations and strategies, though actual results may vary due to various factors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LAMR Hedge Fund Activity
We have seen 284 institutional investors add shares of $LAMR stock to their portfolio, and 288 decrease their positions in their most recent quarter.
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- INVESCO LTD. removed 839,132 shares (-55.3%) from their portfolio in Q3 2024
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Full Release
BATON ROUGE, La., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces that its board of directors has declared a quarterly cash dividend of $1.40 per share and a special cash dividend of $0.25 per share, both payable on December 30, 2024 to stockholders of record of Lamar’s Class A common stock and Class B common stock on December 18, 2024.
Forward-Looking Statements
This press release contains “forward-looking statements” concerning Lamar Advertising Company’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in our forward-looking statements as a result of various factors, including those factors set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with over 4,800 displays.
Company Contact:
Buster Kantrow
Director of Investor Relations
Lamar Advertising Company
(225) 926-1000
[email protected]
