Nexstar's FCF and Capital Allocation
Free Cash Flow and Capital Allocation
Nexstar returned $892 million, or 64% of FCF to shareholders in the LTM period ended 9/30/22
and increased its 2023 dividend by 50% to $5.40 per share p.a.
FCF and Shareholder Returns
Capital Allocation Priorities
Adjusted Free Cash Flow
($ in millions)
% of Adjusted Free Cash Flow
Returned to Shareholders
.
$1,400
Value enhancing operational initiatives
$1,400
100%
.
Accretive M&A
$1,280
$1,243
.
Modest deleveraging
TRAC
TRO
$1,050
$700
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$350
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80%
•
64%
60%
53%
40%
Shareholder returns: dividends and share
repurchases
9/30/22 LTM FCF Allocation
$439
30%
29%
Dividends
10%
20%
Share Repurchases 54%
Debt Repayment
27%
0%
2019
2020
2021
LTM 9/30/22
Other
9%
Free Cash Flow
% of FCF Returned to Shareholders
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