• Jan. 5, 2016, 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.
    Jan. 5, 2016, 9:15 AM