BEASLEY BROADCAST GROUP DECLARES SPECIAL CASH DIVIDEND OF $0.085 PER SHARE
NAPLES, Florida, December 12, 2012 - Beasley Broadcast Group, Inc. (Nasdaq: BBGI), a large- and mid-size market radio broadcaster, announced today that its Board of Directors has declared a special cash dividend of $0.085 for each share of its Class A and Class B common stock. This one-time special dividend is payable on December 27, 2012, to shareholders of record on December 22, 2012.
This is a one-time special dividend and we cannot guarantee any future dividends. The declaration and payment of future dividends, if any, will be at the sole discretion of the Board of Directors based on its consideration of various factors, including the company's operating results, financial condition and anticipated capital requirements.
About Beasley Broadcast Group
Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting company that owns and/or operates 44 stations (28 FM and 16 AM) located in eleven large- and mid-size markets in the United States. The Company also operates one station in the expanded AM band in Augusta, GA.
Note Regarding Forward-Looking Statements:
Statements in this release that are "forward-looking statements" are based upon current expectations and assumptions, and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Words or expressions such as "intends," "expects," "expected," "anticipates" or variations of
such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in our reports filed with the SEC including in our Annual Report on Form 10-K for the year ended December 31, 2011. Readers should note that forward-looking statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including: external economic forces that could have a material adverse impact on our advertising revenues and results of operations; our radio stations may not be able to compete effectively in their respective markets for advertising revenues; we may not remain competitive if we do not respond to changes in technology, standards and services that affect our industry; our substantial debt levels; and, the loss of key personnel. Our actual performance and results could differ materially because of these factors and other factors discussed in the "Management's Discussion and Analysis of Results of Operations and Financial Condition" in our SEC filings, including but not limited to annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC, www.sec.gov, or our website, www.bbgi.com. All information in this release is as of December 12, 2012, and we undertake no obligation to update the information contained herein to actual results or changes to our expectations.