Welcome to our dedicated page for Lamar Advertising news (Ticker: LAMR), a resource for investors and traders seeking the latest updates and insights on Lamar Advertising stock.
Lamar Advertising Company operates as an outdoor advertising company and real estate investment trust focused on billboard, logo sign, and transit advertising assets. News about LAMR commonly covers operating results, local and national advertising demand, acquisition-adjusted revenue trends, Adjusted EBITDA, AFFO, and updates tied to its outdoor display portfolio.
Recurring company developments also include cash dividends on Class A and Class B common stock, stock and debt repurchase authorizations, acquisitions of outdoor advertising assets, and appearances at media, communications, and property industry conferences.
Lamar Advertising Company (Nasdaq: LAMR) has declared a quarterly dividend of $0.50 per share, payable on June 30, 2020. Stockholders of record on June 22, 2020 will receive this dividend. The board emphasized the uncertainty in the business trajectory for 2020, leading to this adjusted dividend from the previous $1.00 per share paid on March 31, 2020. The company plans to evaluate its dividend strategy quarterly, prioritizing liquidity and operating conditions while committing to distribute at least 90% of full-year taxable income as a REIT.
Lamar Advertising Company (Nasdaq: LAMR) has relocated its 2020 Annual Meeting of Stockholders to a virtual format due to COVID-19 concerns. Scheduled for May 28, 2020, at 9:00 a.m. CT, stockholders must register by May 25, 2020, to participate. Voting can be done electronically during the meeting, and stockholders are encouraged to submit proxies in advance. An informal Q&A will follow the meeting, allowing stockholders to engage with management. The company, a leader in outdoor advertising, operates over 390,000 displays across North America.
Lamar Advertising Company (NASDAQ: LAMR) has announced a private placement of $400 million in 4 7/8% Senior Notes due 2029. The net proceeds are estimated to be around $394.5 million and will primarily be used to repay existing debt under its credit facility, with any remaining funds allocated for working capital or general corporate purposes. The offering is expected to close around May 13, 2020, subject to standard closing conditions.
Lamar Advertising Company (Nasdaq: LAMR) is planning to raise approximately $400 million through a private placement of senior notes by its subsidiary, Lamar Media Corp. The funds will primarily be used to repay existing debt under the revolving portion of its senior credit facility. Any remaining proceeds will support general corporate purposes or working capital needs. The offering is subject to market conditions and is directed at qualified institutional buyers, with no registration under the Securities Act.
Lamar Advertising Company (Nasdaq: LAMR) announced that CEO Sean Reilly will speak at the J.P. Morgan Global Technology, Media and Communications Conference on May 12, 2020, at 2:50 p.m. (ET). The session will be available via live audio webcast on the company's website and archived for 30 days. Lamar Advertising, founded in 1902, is a leading outdoor advertising firm with over 390,000 displays across the U.S. and Canada, including more than 3,600 digital billboards, catering to both local and national advertisers.