Townsquare Media, Inc. (NYSE:TSQ) Declares $0.20 Quarterly Dividend

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Monday, March 16th. Shareholders of record on Monday, April 27th will be paid a dividend of 0.20 per share on Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.1%. The ex-dividend date is Monday, April 27th.

Townsquare Media has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 3 years. Townsquare Media has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 62.0%.

Townsquare Media Stock Down 12.3%

TSQ opened at $6.12 on Tuesday. The firm has a 50-day moving average price of $6.57 and a 200-day moving average price of $6.16. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $9.31. The company has a market capitalization of $100.77 million, a price-to-earnings ratio of 5.94, a PEG ratio of 0.92 and a beta of 0.95.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.