Sinclair, Inc. (SBGI) to Issue Quarterly Dividend of $0.25 on June 9th

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Tuesday, May 26th will be paid a dividend of 0.25 per share on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Tuesday, May 26th.

Sinclair has increased its dividend by an average of 0.0%per year over the last three years. Sinclair has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sinclair to earn ($1.52) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -65.8%.

Sinclair Stock Up 1.8%

Shares of NASDAQ:SBGI opened at $13.86 on Friday. The stock has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $14.90. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 15.40 and a beta of 1.09. Sinclair has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 11.10.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.96. The business had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $792.63 million. Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.30) earnings per share. On average, research analysts anticipate that Sinclair will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other Sinclair news, Director Daniel C. Keith sold 22,613 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the completion of the sale, the director owned 25,027 shares of the company’s stock, valued at approximately $327,853.70. The trade was a 47.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert Weisbord sold 3,672 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $13.97, for a total value of $51,297.84. Following the sale, the chief operating officer directly owned 280,853 shares of the company’s stock, valued at $3,923,516.41. This represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,672 shares of company stock valued at $758,498 in the last three months. 41.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sinclair

Several hedge funds have recently bought and sold shares of SBGI. AQR Capital Management LLC grew its holdings in Sinclair by 5.7% during the first quarter. AQR Capital Management LLC now owns 41,993 shares of the company’s stock valued at $656,000 after purchasing an additional 2,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sinclair by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock valued at $304,000 after purchasing an additional 780 shares during the period. Acadian Asset Management LLC grew its holdings in Sinclair by 134.7% during the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company’s stock valued at $182,000 after purchasing an additional 6,615 shares during the period. Cetera Investment Advisers grew its holdings in Sinclair by 17.7% during the second quarter. Cetera Investment Advisers now owns 17,097 shares of the company’s stock valued at $236,000 after purchasing an additional 2,572 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Sinclair by 5.1% during the second quarter. JPMorgan Chase & Co. now owns 31,075 shares of the company’s stock valued at $429,000 after purchasing an additional 1,511 shares during the period. Institutional investors own 41.71% of the company’s stock.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.