Salem Communications Announces Initiation of Quarterly Dividend Payment

Salem Communications Corporation SALM today announced that its Board of Directors has authorized and declared a quarterly dividend in the amount of $0.035 per share of its Class A and Class B common stock. The initial quarterly cash dividend of $0.035 per share will be paid on March 30, 2012 to all common stockholders of record as of March 23, 2012. Salem Communications anticipates paying the quarterly dividends in March, June, September and December of each year. Based on the number of shares currently outstanding, the company expects to pay a total annual dividend of $3.4 million.