Lamar Advertising (LAMR) Declares $0.84 Quarterly Dividend; Reports $250M Buyback Plan

Lamar Advertising (NASDAQ: LAMR) declared a quarterly dividend of $0.84 per share, or $3.36 annualized.

The dividend will be payable on December 30, 2014, to stockholders of record on December 22, 2014, with an ex-dividend date of December 18, 2014.

The annual yield on the dividend is 6.2 percent.

In addition, Lamar announces that its board of directors has authorized the repurchase of up to $250 million of the company's Class A common stock from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased will be determined by the company's management based on its evaluation of market conditions and other factors. The repurchase program, which will expire on June 30, 2016 unless extended by the Board of Directors, may be suspended or discontinued at any time. The company may also establish from time to time 10b5-1 trading plans that will provide flexibility as it buys back its shares.

For a dividend history and other dividend-related data on Lamar Advertising (LAMR) click here.

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