Sinclair, Inc. (NASDAQ:SBGI) Shareholders to Get $0.25 Quarterly Dividend

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.25 per share on Tuesday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Tuesday, December 1st.

Sinclair has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sinclair to earn ($1.15) 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 -87.0%.

Sinclair Trading Up 4.7%

NASDAQ:SBGI opened at $14.10 on Thursday. The company has a debt-to-equity ratio of 13.28, a current ratio of 1.94 and a quick ratio of 1.94. Sinclair has a fifty-two week low of $11.83 and a fifty-two week high of $17.88. The stock’s 50-day moving average is $13.16 and its two-hundred day moving average is $14.05. The stock has a market cap of $1.02 billion, a PE ratio of 18.80 and a beta of 1.24.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.33. The business had revenue of $893.00 million during the quarter, compared to analyst estimates of $874.21 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities research analysts forecast that Sinclair will post 1.01 earnings per share for the current fiscal year.

Insider Transactions at Sinclair

In other Sinclair news, EVP David Gibber sold 29,246 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.74, for a total value of $401,840.04. Following the completion of the sale, the executive vice president directly owned 184,244 shares of the company’s stock, valued at $2,531,512.56. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 42.10% of the company’s stock.

Institutional Trading of Sinclair

A number of hedge funds have recently modified their holdings of SBGI. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Sinclair by 3.6% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 29,000 shares of the company’s stock valued at $375,000 after purchasing an additional 1,000 shares in the last quarter. Waverly Advisors LLC lifted its position in Sinclair by 9.7% in the second quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock worth $190,000 after purchasing an additional 1,181 shares during the period. Farther Finance Advisors LLC lifted its position in Sinclair by 2,823.1% in the third quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock worth $29,000 after purchasing an additional 2,202 shares during the period. Inceptionr LLC boosted its stake in Sinclair by 46.3% during the first quarter. Inceptionr LLC now owns 17,025 shares of the company’s stock worth $220,000 after buying an additional 5,385 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Sinclair during the second quarter worth $100,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Company Profile

Sinclair, Inc is a diversified media company that owns and operates local television stations across the United States. Its broadcast portfolio includes ABC, CBS, FOX, NBC, and other network-affiliated stations, as well as independent stations. Sinclair’s local media operations produce news, weather, sports, and community-focused programming for viewers in markets throughout the country.

The company also develops and distributes national and regional content through cable networks, digital platforms, and streaming services.