Lamar Advertising (LAMR) will raise its quarterly dividend by 33.3 percent to $1.00 per share. This is the second dividend hike by the outdoor advertising company in 2021. Last year the dividend was cut from $1.00 to $0.50 per share.
The next dividend is payable on September 30, 2021 to stockholders of record on September 20, 2021. A new $4.00 per share annual dividend rate yields 3.5% at a stock price of $114. Lamar Advertising had previously hiked its dividend 5 consecutive years.
Founded in 1902, Lamar Advertising is one of the largest outdoor advertising companies in North America, with displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar offers its customers the largest network of digital billboards in the United States. Lamar's advertising tenant categories include restaurants; service; healthcare; retailer; amusement-entertainment/sports; automotive; gaming; education; financial-banks, credit unions; telecommunications, and real estate.