Arbitron Inc. said Monday that its board of directors has approved the payment of the company's first quarterly cash dividend.
The media- and marketing-research firm said the dividend -- 10 cents per common share -- will be paid April 1 to shareholders of record as of the close of business March 15.
“This is a milestone for the company,” CEO Steve Morris said in a prepared statement. “We have significantly reduced the debt we assumed when we went public in March 2001, and we continue to generate strong cash flows from operations.”
He added, “Most important, we are building value for shareholders without compromising our ability to invest in the ‘Portable People Meter’ in order to grow our core business and expand into new markets.”