Newfoundland Capital boosts semi-annual dividend to 9 cents per share

HALIFAX – Radio station operator Newfoundland Capital Corp. (TSX:NCC.A) has announced a 50 per cent increase in its semi-annual dividend.

The Nova Scotia-based company which has 95 radio licences across the country, says the dividend, previously at six cents per share, will be increased to nine cents.

The new dividend will be payable Jan. 30 to shareholders of record at the close of business on Dec. 31.

Based on the company’s current share price of $8.50, that would produce an annual yield of 2.1 per cent.