Here’s a breakdown of billboard public stock dividend yields, sponsored and analyzed by SignValue.

• Lamar Advertising is a public REIT so must distribute 90% of taxable income.  Lamar has a current dividend yield of 4.2%.  Here’s Lamar Advertising’s dividend yield for the past three years.

• OUTFRONT Media is a public REIT must distribute 90% of taxable income.  OUTFRONT has a current dividend yield of 4.4%.  Here’s OUTFRONT’s dividend yield for the past three years. OUTFRONT’s dividend yield has historically been higher than Lamar’s because OUTFRONT stock has been trading at a lower multiple to earnings.  OUTFRONT’s current dividend yield is compareable to Lamar because OUTFRONT’s stock has rallied as the transit business has recovered from COVID.   The high dividend in December 2024 was due to gain on the sale of OUTFRONT’s Canadian business.  Here’s OUTFRONT’s dividend yield for the past three years.

• The French out of home company JCDecaux is not a REIT and has no obligation to pay dividends but it typically pays a modest single annual dividend.  JCDecaux has a current dividend yield of 3.4%.  Here’s JCDecaux’s dividend yield for the past three years.

• Clear Channel is not a REIT so has no dividend obligations.  Clear Channel pays no dividends due to high debt and will go private in the next two months.  We expect it to go public as a REIT within the next 5 years.
• Out of home stock dividends are cyclical.  During covid, OUTFRONT and JCDecaux suspended dividends.  Lamar cut but did not suspend its dividend during covid.
• The 4% dividend yield on the US out of home stocks is well above the current 1.04% current dividend yield for the S&P 500 and well above the 1.8-2% historic yield for the S&P 500.

If you have questions, contact one of SignValue’s experienced analysts for a free and confidential consultation at info@signvalue.com or call 480-657-8400.

To receive a free morning newsletter with each day’s Billboard insider articles email info@billboardinsider.com with the word “Subscribe” in the title.  Our newsletter is free and we don’t sell our subscriber list.

Paid Advertisement