Better Off Passing By This Overvalued Billboard Advertiser
Tue, Jan. 5, 9:15 AM
- IHeartCommunications (OTCPK:IHRT) is set to receive nearly $200M as family company Clear Channel Outdoor Holdings (NYSE:CCO) executes a special cash dividend.
- The dividend of $0.6026/share, payable this Thursday, was set with an of-record date for yesterday. With shares counted, the payment comes to $217.8M, and iHeartCommunications (an indirect parent) is entitled to get about $196.3M of that.
- Public shareholders will receive about $21.5M. The company funded the dividend with senior 8.75% debt due 2020.
Oct. 21, 2013, 9:39 AM
- Clear Channel Outdoor Holdings, Inc. (CCO) declares $0.56/share special dividend.
- Payable Nov. 8; for shareholders of record Nov. 5; ex-div Nov. 1.
Clear Channel Outdoor Holdings, Inc. operates as an outdoor advertising company, which clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars, which it owns or operates... More
Industry: Marketing Services
Country: United States