shares of townsquare media inc rose 24 to a high of 901 in early trading thursday after the company brought back quarterly dividends and posted fourthquarter revenue and adjusted earnings that topped analyst expectations the purchase nybased radiostation operator posted a quarterly profit of 35 million or 20 cents a share compared with 14 million or 7 cents a share in the same quarter a year ago adjusted earnings which exclude onetime items were 66 cents a share analysts polled by factset had been expecting 49 cents a share revenue rose 11 from a year ago to 1203 million above analyst expectations for 1178 million according to factset townsquare media also said its board approved the initiation of an 1875 cent quarterly cash dividend the dividend payout equal to 75 cents a year represents an annual yield of about 103 based on wednesdays closing price of 726 townsquare had eliminated its previous dividend of 75 cents in june 2020 when the covid19 pandemic upended the economy