NY Times to Pay Dividend for First Time in Five Years
Mark Thompson, president and CEO of The New York Times, has made some investors happy. In a statement, he said that the Times Company board decided “That the strength of the balance sheet justified the restoration of a dividend.” It’s the first dividend being paid out by the Times in five years. Starting in late October, shareholders will get four cents per share.
The dividend — which will be doled out a week before the Times announces its third quarter report — applies to Class A and B shares, and will cost the company about $24 million a year.
Despite
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in