Mays: Clear Channel Balance Sheet Has Been 'Strengthened Considerably' - Radio World

Mays: Clear Channel Balance Sheet Has Been 'Strengthened Considerably'

Mays: Clear Channel Balance Sheet Has Been 'Strengthened Considerably'
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Clear Channel Communications declared a quarterly cash dividend of 10 cents per share on its common stock. The dividend is payable on Oct. 15 to shareholders of record at the close of business on Sept. 30.
Chairman/CEO Lowry Mays stated, "The company's balance sheet has been strengthened considerably through the repayment of more than $3 billion in debt since the beginning of 2001. ... The board is committed to maintaining our bias for improving the leverage ratios of the company, while continuing to balance that with strategic acquisitions and long-term capital requirements."

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