Board declares dividend of 18 cents per share.
Thanks in part to Citadel Broadcasting Corporation’s second quarter revenues rising 2.4% to $112.5 million, the company’s board of directors has declared a quarterly dividend of 18 cents per share, payable October 20 to shareholders of record as of October 5.
In reporting Q2 results Monday (Aug. 7), Citadel also notes that operating income lifted 2.7% to $52.4 million, while registering a net loss of $74.8 million (76 cents per basic share), which is down from last year’s gain of $21.5 million (18 cents per share).
Citadel credits its overall revenue increase to improved performance at its Boise, Birmingham, Modesto and Lafayette, La. properties, which were offset by losses at its Buffalo, Nashville, New Orleans and Wilkes Barre-Scranton stations.