NYT Co. Cuts Its Dividend

Finally! Michael Calderone is reporting that after months of being pressured to do so, the NYT Co. has decided to slash its quarterly dividend from $.23 to $.06 a share. Perhaps all it took was yesterday’s severe tumble in shares (to their lowest point in decades) or maybe it was the junk status they were handed by the S&P last month. Whatever the case, better late than never, one supposes.