Sinclair Broadcast Group, Inc. - (SBGI) Declares $0.25 Dividend

Sinclair Broadcast Group, Inc. - said on May 3, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.

Shares must be purchased before the ex-div date of May 26, 2023 to qualify for the dividend. Shareholders of record as of May 30, 2023 will receive the payment on June 15, 2023.

At the current share price of $15.65 / share, the stock's dividend yield is 6.39%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.29%, the lowest has been 1.32%, and the highest has been 7.54%. The standard deviation of yields is 1.29 (n=236).

The current dividend yield is 2.40 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 405 funds or institutions reporting positions in Sinclair Broadcast Group, Inc. -. This is an increase of 5 owner(s) or 1.25% in the last quarter. Average portfolio weight of all funds dedicated to SBGI is 0.10%, a decrease of 14.43%. Total shares owned by institutions increased in the last three months by 2.33% to 42,337K shares. The put/call ratio of SBGI is 3.16, indicating a bearish outlook.

Analyst Price Forecast Suggests 50.31% Upside

As of April 24, 2023, the average one-year price target for Sinclair Broadcast Group, Inc. - is 23.52. The forecasts range from a low of 13.64 to a high of $39.90. The average price target represents an increase of 50.31% from its latest reported closing price of 15.65.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sinclair Broadcast Group, Inc. - is 3,340MM, a decrease of 2.14%. The projected annual non-GAAP EPS is 0.77.

What are Other Shareholders Doing?

Contrarius Investment Management holds 4,340K shares representing 6.63% ownership of the company. In it's prior filing, the firm reported owning 3,838K shares, representing an increase of 11.57%. The firm decreased its portfolio allocation in SBGI by 11.08% over the last quarter.

Gamco Investors, Inc. Et Al holds 2,404K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 2,597K shares, representing a decrease of 8.01%. The firm decreased its portfolio allocation in SBGI by 27.49% over the last quarter.

Millennium Management holds 2,082K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 178K shares, representing an increase of 91.44%. The firm increased its portfolio allocation in SBGI by 837.70% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,246K shares representing 1.90% ownership of the company. No change in the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,063K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 1,053K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in SBGI by 19.87% over the last quarter.

Sinclair Broadcast Group Background Information
(This description is provided by the company.)

Sinclair Broadcast Group, Inc. is a diversified media company and leading provider of local sports and news. The Company owns and/or operates 23 RSN brands; owns, operates and/or provides services to 190 television stations in 88 markets; is a leading local news provider in the country; owns multiple national networks; and has TV stations affiliated with all the major broadcast networks. Sinclair’s content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. Sinclair, either directly or through its venture subsidiaries, makes equity investments in strategic companies.

This story originally appeared on Fintel.