Gray Media Inc. (GTN) to Issue Quarterly Dividend of $0.08 on March 31st

Gray Media Inc. (NYSE:GTN) announced a quarterly dividend on Wednesday, February 25th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.08 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, March 13th.

Gray Media has a payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gray Media to earn ($0.28) per share next year, which means the company may not be able to cover its $0.32 annual dividend with an expected future payout ratio of -114.3%.

Gray Media Stock Performance

Shares of NYSE:GTN opened at $5.25 on Wednesday. The business has a fifty day moving average of $4.71 and a 200-day moving average of $5.01. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27. Gray Media has a twelve month low of $3.13 and a twelve month high of $6.30. The firm has a market cap of $535.46 million, a PE ratio of -3.69 and a beta of 0.85.

Gray Media (NYSE:GTN) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.04. Gray Media had a negative net margin of 2.75% and a negative return on equity of 2.51%. The business had revenue of $792.00 million for the quarter, compared to the consensus estimate of $780.50 million. During the same quarter in the prior year, the company earned $1.59 EPS. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. On average, equities research analysts predict that Gray Media will post 3.32 EPS for the current fiscal year.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.