Lamar Advertising Raises Quarterly Dividend to $1.65

Lamar Advertising Company (NASDAQ: LAMR) raised its quarterly dividend to $1.65 per share from $1.60, an increase of 3.13%. The shares traded ex-dividend on Sept. 21, 2026.

The new rate equates to an annual dividend of $6.60 per share. Based on the stated share price of $146.08, the stock carries a forward annual yield of 4.49%.

Lamar’s board declared the distribution for holders of both its Class A and Class B common stock, according to the company’s dividend announcement and the corresponding SEC filing.

Business context

Lamar is a real estate company focused on outdoor advertising and logo-sign displays. Its inventory includes billboards as well as transit, airport and interstate-logo advertising formats across the United States and Canada, according to the company.

The dividend announcement did not attribute the increase to a specific operating factor. However, it followed an upbeat business update in which Chief Executive Sean Reilly said quarterly results exceeded management’s expectations and that advertising-sales pacing remained strong for the balance of the year. Management also raised its full-year outlook for adjusted funds from operations per share in that update. Lamar’s quarterly results release notes that AFFO is a non-GAAP measure and should not be viewed as a substitute for GAAP results.

The increase extends Lamar’s dividend-growth run to two consecutive years. That record remains relatively short and includes a prior reduction in 2020, an important distinction from companies with uninterrupted multiyear growth histories. SmarterDividends assigns the payout a dividend-safety score of 50 out of 100, corresponding to a C grade.

What it means for income investors

For existing shareholders, the higher quarterly rate increases the expected annual income stream to $6.60 per share if the rate remains unchanged. The 4.49% forward yield is a snapshot based on the stated $146.08 share price and will move as the stock price changes.

Because the shares traded ex-dividend on Sept. 21, purchases on or after that date do not carry entitlement to this distribution. Future dividends remain subject to board approval, and the company’s earlier 2020 cut underscores that distributions are not guaranteed.