Nexstar announces $1.5B share repurchase authorization

Nexstar announced that its board of directors declared a quarterly cash dividend of $1.69 per share of its common stock. The dividend is payable on Friday, August 23 to shareholders of record on Friday, August 9. In addition, the board of directors also approved a new share repurchase program authorizing the company to repurchase up to $1.5B of its common stock. The new share repurchase authorization is in addition to Nexstar’s existing share repurchase program announced in July 2022, of which $496M remained as of May 8.