NEW YORK - OUTFRONT Media Inc. (NYSE: OUT), a prominent player in the North American outdoor advertising sector, has declared a quarterly cash dividend of $0.30 per share. This dividend is scheduled for distribution on March 28, 2024, to shareholders who are on record as of the close of business on March 1, 2024.
The announcement comes as part of the company's regular dividend program aimed at providing returns to its investors. OUTFRONT Media specializes in leveraging a combination of technology, strategic location, and creative strategies to connect brands with consumers when they are outside their homes. The company owns a vast array of advertising assets, including billboards, transit options, and mobile networks across North America.
OUTFRONT Media's commitment to integrating technology into its advertising solutions is a testament to its efforts to evolve with the changing landscape of audience engagement. The company's technology platform is designed to transform the traditional methods of outdoor advertising by enabling advertisers to more effectively capture the attention of consumers on the move.
Investors holding shares of OUTFRONT Media can anticipate the receipt of the dividend towards the end of March, provided they are recorded as shareholders by the beginning of the month. This event is based on a press release statement issued by OUTFRONT Media Inc. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol OUT.
InvestingPro Insights
OUTFRONT Media Inc. (NYSE: OUT) has recently made headlines with its dividend announcement, reflecting its commitment to shareholder returns. As investors consider the implications of this announcement, it's pertinent to delve into the company's financial health and market position through key metrics and insights from InvestingPro.
For those evaluating OUTFRONT Media's investment potential, the company's market capitalization stands at approximately $2.06 billion. This valuation is particularly noteworthy when considering the company's revenue growth over the last twelve months as of Q3 2023, which was reported at 4.14%. Additionally, the gross profit margin during the same period was a robust 47.04%, highlighting the company's ability to retain a significant portion of its revenue after accounting for the cost of goods sold.
InvestingPro Tips also shed light on some critical aspects for shareholders and potential investors. OUTFRONT Media is recognized for paying a significant dividend to its shareholders, with a dividend yield of 9.65% as of the latest data. This is a compelling factor for income-focused investors. Moreover, the company's stock price is currently trading at 65.46% of its 52-week high, which may indicate a potential entry point for those looking to capitalize on price movements.
It's worth noting that two analysts have revised their earnings projections upwards for the upcoming period, suggesting a positive outlook on the company's earnings potential. For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available, which can be accessed through InvestingPro's platform for OUTFRONT Media at https://www.investing.com/pro/OUT. To enhance your investing experience, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.