Lamar Advertising announces quarterly dividend of $1.55 and a special dividend of $0.25
Quarterly and Special Dividends: Lamar Advertising (LAMR) has declared a quarterly dividend of $1.55 per share and a special cash dividend of $0.25 per share, both payable on December 31 to shareholders of record as of December 22.
Earnings Performance: In its recent earnings report, Lamar Advertising reported a GAAP EPS of $1.40, which missed expectations by $0.16, while revenue of $585.5 million exceeded estimates by $1.5 million.
Future Projections: The company anticipates an AFFO per share of $8.10–$8.20 for 2025, with strong growth momentum expected in 2026, supported by $300 million in acquisitions.
Industry Presentation: Lamar Advertising recently presented at Wells Fargo's 9th Annual TMT Summit, highlighting its position as a high-quality billboard REIT with strong margins and growth potential.
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- Earnings Beat: New York Times reported an adjusted EPS of $0.89 for Q4, surpassing analyst expectations of $0.87, indicating strong performance driven by digital subscriber growth that solidifies its market position.
- Significant Revenue Growth: The company achieved a 10.4% year-over-year revenue increase to $802.3 million in Q4, exceeding analyst estimates of $791.3 million, reflecting robust demand for advertising and digital content.
- Subscriber Growth: By the end of Q4 2025, New York Times added approximately 450,000 net digital-only subscribers, bringing the total to 12.78 million, showcasing success in attracting new users and enhancing future revenue sustainability.
- Increased Shareholder Confidence: Berkshire Hathaway acquired 5.07 million shares of New York Times in Q4, leading to a 3.3% rise in stock price during after-hours trading, demonstrating market confidence in the company's growth potential.
- Leadership Transition: With Buffett stepping down after decades, Berkshire Hathaway officially hands over the reins to Greg Abel, marking a new chapter for the company as investors hope he will continue its successful legacy.
- Shareholder Letter Release: Abel's inaugural shareholder letter is set to be released on February 28 at 8 a.m. ET, alongside the fourth-quarter financial results, maintaining the tradition of Saturday releases to allow investors time to digest the information.
- Investor Focus Areas: Investors are eager for Abel to provide insights on the company's over $300 billion in idle cash, potential acquisitions, and whether Berkshire might finally consider paying dividends, reflecting the market's keen interest in the company's future strategy.
- Macroeconomic Insights: Abel may discuss macroeconomic views on key sectors such as financials, oil, insurance, and railroads in his letter, which would help investors understand the dynamics of Berkshire's operating businesses and investment portfolio.

- Market Performance: Equities experienced a decline last week, with all three major indexes falling by at least 1.2%.
- Economic Indicators: This downturn occurred despite a better-than-expected jobs report from the Bureau of Labor Statistics and a relatively stable inflation report.
- Acquisition Deal: Lamar Advertising Company has acquired the assets of Cleveland Outdoor Advertising for cash, adding 31 high-profile bulletin faces and over 40 junior bulletin faces to its Cleveland portfolio, significantly expanding its market share and reinforcing its leadership position in the outdoor advertising industry.
- Industry Pioneer: Founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson as a junior poster plant, Cleveland Outdoor Advertising has grown to include numerous premium bulletin locations, and Lamar's acquisition will help carry forward its innovative spirit and market influence in the industry.
- Leadership Trust: Ross Reilly, president of Lamar's outdoor division, emphasized the honor of taking over COA's legacy, reflecting Lamar's strong reputation and influence in the industry, which is expected to attract more clients and partners.
- Industry Contribution: Abdalian-Thompson expressed gratitude for the industry and her long-standing admiration for Lamar, indicating that this acquisition is not just a transfer of assets but a commitment to the future development of the industry, potentially fostering further growth in the outdoor advertising market.
- Dividend Overview: Lamar Advertising Company paid a cash distribution of $1.55 per share to common stockholders in 2025, covering payment dates in March, June, and September, indicating the company's stable cash flow and commitment to shareholder returns.
- Tax Information: The 2025 distributions included a qualified taxable dividend of $0.2415 per share and an ordinary taxable dividend of $1.3085 per share, reflecting the company's transparency in tax compliance, which aids shareholders in tax planning.
- Annual Summary: As of December 31, 2025, Lamar's total annual distribution reached $1.80 per share, demonstrating strong performance and profitability in the advertising market, which further boosts investor confidence.
- Company Background: Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising firms in North America, with over 362,000 displays, continuously providing diverse advertising solutions to clients, thereby solidifying its market leadership.

- Leadership Change: Lamar Advertising has appointed Ross Reilly as President of its Outdoor Division effective January 1, 2026, overseeing the billboard display business, which is expected to enhance the company's competitiveness in the outdoor advertising market.
- Acquisition Achievements: Since 2019, Reilly has successfully closed over $1.5 billion in out-of-home asset acquisitions as Vice President of Mergers and Acquisitions, strengthening the company's market share and asset portfolio.
- Strategic Development: Reilly has excelled in advancing programmatic sales strategies by building partnerships with leading third-party exchanges, enhancing the company's technical capabilities, which is anticipated to further drive revenue growth.
- Industry Experience: With extensive experience across various roles at Lamar, Reilly is expected to leverage his industry connections and insights into the changing media landscape to drive ongoing success in the Outdoor Division.








