American Radio Systems announces preferred stock dividend.BOSTON--(BUSINESS WIRE)--Sept. 16, 1996-- American Radio Systems Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMRD AMRD Army Modernization Reference Data AMRD Accidental Magic Reversal Department (Harry Potter and the Prisoner of Azkaban) AMRD Automatic Message Routing Device AMRD Ami Mega Raid ) has declared that a dividend of $18.67 per share will be payable on Sept. 30, 1996 to each record holder of its 7 percent Convertible Exchangeable Preferred Stock Convertible exchangeable preferred stock Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock. as of the close of business on Sept. 19, 1996. This dividend equals $0.9335 per depositary share. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is Sept. 17, 1996. American Radio Systems Corp. began trading shares publicly in June, 1995 on NASDAQ. The company owns and/or manages 42 FM and 21 AM stations in Boston, Baltimore, Portland, Sacramento, Hartford, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Austin, Buffalo, San Jose, West Palm Beach, Rochester, Dayton, Fresno and Omaha. The company also has options and/or agreements to buy additional radio stations in Boston, Baltimore, Sacramento, Las Vegas, Buffalo, San Jose, West Palm Beach, Rochester, Dayton and Fresno. In addition, on Aug. 5, 1996, the company announced that it had reached an agreement to merge with EZ Communications Inc. EZ Communications owns and/or operates 23 radio stations in seven markets nationwide. CONTACT: American Radio Systems Joe Winn or Bruce Danziger, 617/375-7500 |
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