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Salem Communications Corp. (NASDAQ:SALM) CEO Edward G. Atsinger III unloaded 73,758 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $8.60, for a total value of $634,318.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Salem Communications Corp. (NASDAQ:SALM) traded down 0.55% during mid-day trading on Tuesday, hitting $9.08. The stock had a trading volume of 10,355 shares. Salem Communications Corp. has a 52-week low of $7.00 and a 52-week high of $10.34. The stock’s 50-day moving average is $8.62 and its 200-day moving average is $8.98. The company has a market cap of $228.3 million and a price-to-earnings ratio of 14.22.

Salem Communications Corp. (NASDAQ:SALM) last released its earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.15. Analysts expect that Salem Communications Corp. will post $0.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 12th. This is a positive change from Salem Communications Corp.’s previous quarterly dividend of $0.06.

Salem Communications Corporation (NASDAQ:SALM) is a domestic multi-media company with integrated business operations covering radio broadcasting, publishing and the Internet.

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