Nexstar sets quarterly dividend at $1.86 per share

IRVING, Texas - Nexstar Media Group, Inc. (NASDAQ: NXST), a leading diversified media company, has declared a quarterly cash dividend of $1.86 per share. The dividend is scheduled for payment on Monday, June 2, 2025, to shareholders on record as of Monday, May 19, 2025. According to InvestingPro data, the company has maintained dividend payments for 13 consecutive years, with an impressive dividend growth of 37.8% over the last twelve months. The current dividend yield stands at 4.87%.

The announcement follows Nexstar’s established pattern of providing quarterly dividends, with the company expressing intentions to continue this practice subject to quarterly review and Board approval.

Nexstar Media Group’s portfolio includes the United States’ largest local television broadcasting group, comprising over 200 owned or affiliated stations in 116 markets, reaching an estimated 220 million people. Its national television assets include The CW network, NewsNation, multicast networks Antenna TV and Rewind TV, as well as a 31.3% stake in TV Food Network.

In addition to its broadcasting components, Nexstar’s digital presence is significant, with properties such as The Hill and NewsNationNow.com, which rank among the top ten U.S. digital news and information sites.

The dividend reflects Nexstar’s commitment to delivering value to its shareholders and its confidence in the company’s financial position. The media group continues to focus on producing and distributing content across its various television and digital platforms, totaling over 316,000 hours of programming annually.

This dividend announcement is based on a press release statement from Nexstar Media Group, Inc.

In other recent news, Nexstar Media Group reported fourth-quarter 2024 revenue and adjusted EBITDA figures that exceeded Wall Street’s expectations, with significant reductions in operating losses at The CW network. Citi analysts maintained a Neutral rating for Nexstar, with a price target of $186, reflecting their view that the stock is fairly valued given the company’s recent performance and future prospects. Meanwhile, Benchmark analyst Daniel Kurnos raised Nexstar’s stock target to $225, maintaining a Buy rating, citing the company’s unexpected distribution growth guidance and its unique position among peers.

In corporate developments, long-serving director Dennis FitzSimons has announced he will not seek re-election at Nexstar’s upcoming annual stockholders’ meeting, marking a significant change in the company’s governance structure. The company clarified that his departure is not due to disagreements with management. Additionally, Apollo Global Management is exploring the sale of Cox Media Group, with Nexstar mentioned as a potential buyer, although no comments have been made by Nexstar regarding this potential acquisition.

Furthermore, Nexstar’s digital strategy is under scrutiny, with Grizzly Research announcing a short position on the company due to concerns over declining digital engagement and underinvestment in technology. The research firm highlighted issues such as declining web traffic and app usage, particularly with key assets like The CW and BestReviews.com. These developments come as Nexstar continues to navigate the challenges of transitioning from traditional media to digital platforms amidst a competitive landscape.

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