Lamar to Pay $0.50 per Share 4Q Dividend

Lamar announced its December 2020 dividend at $0.50 per share.  This equates to a dividend yield of  2.5% on Lamar’s current share price of $80.

Lamar paid a $1 per share dividend prior to covid which equated to a 4-5% yield.  The company cut the dividend from $1.00 prior to covid to  $0.50 per share in June 2020 and September 2020 to conserve cash due to covid uncertainties.

Insider’s take:  Insider expects to see Lamar increase the dividend back to $1.00 per share in the first or second quarter of next year.   Lamar’s roadside plant has recovered fastest from Covid.  Lamar CEO Sean Reilly said on the third quarter 2020 earnings calls that the company will resume growth capital expenditures in 2021. Insider expects the dividend to follow.

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