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Nexstar board approves increase in quarterly dividend

Nexstar Media Group Inc.'s board approved a 25% increase in the quarterly cash dividend to 30 cents per share of its class A common stock, beginning with the dividend declared for the first quarter.

The dividend is payable on Feb. 24 to stockholders of record on Feb. 10. While the company plans to pay regular quarterly cash dividends in the future, all subsequent dividends will be reviewed quarterly and declared by the board at its discretion, the company said.