Lamar Advertising (LAMR) hikes dividend for second time in 2024

Lamar Advertising (LAMR) will raise its quarterly dividend by another 7.7% to $1.40 per share. This is the second dividend hike by LAMR in 2024. The dividend yield is 4.6%.

This brings the total dividend increase by LAMR to 12.0% in 2024, marking 4 consecutive years of increased dividends. At a stock price of $123 the dividend yield for Lamar Advertising is 4.6%.

Lamar, a leading owner and operator of outdoor advertising and logo sign displays, announces that the new quarterly cash dividend of $1.40 per share is payable on September 30, 2024 to stockholders of record of Lamar’s Class A common stock and Class B common stock on September 18, 2024. Subject to the approval of its board of directors, Lamar expects aggregate quarterly distributions to stockholders in 2024, including the dividend payable on September 30, 2024, will be at least $5.40 per common share.

Lamar also announced two dividend hikes in 2022 (+9.1% and +10.0%)

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.