townsquare media inc on thursday said its board approved the initiation of a quarterly cash dividend nearly three years after eliminating cash payouts the new 1875cent quarterly rate equal to 75 cents a year represents an annual yield of about 103 based on wednesdays closing price of 726 for the purchase ny radiostation operator townsquare eliminated its previous 75cent dividend in june 2020 amid the economic chaos sparked by the covid19 pandemic the company on thursday said the new dividend policy reflects confidence in its current capitalization the strength of its balance sheet and its freecashflow generation townsquare said the initial dividend is payable may 1 to shareholders of record march 27