The New York Times Company (NYSE:NYT) Plans Dividend Increase – $0.23 Per Share

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Wednesday, February 4th. Stockholders of record on Wednesday, April 1st will be given a dividend of 0.23 per share on Thursday, April 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, April 1st. This is a 27.8% increase from New York Times’s previous quarterly dividend of $0.18.

New York Times has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 7 years. New York Times has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.6%.

New York Times Stock Up 1.1%

Shares of NYT opened at $68.39 on Thursday. The stock has a 50 day moving average price of $69.54 and a 200 day moving average price of $62.07. New York Times has a 52-week low of $44.83 and a 52-week high of $74.04. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. New York Times had a net margin of 12.29% and a return on equity of 20.30%. The company had revenue of $802.31 million during the quarter, compared to the consensus estimate of $791.55 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. New York Times’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts anticipate that New York Times will post 2.08 EPS for the current fiscal year.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.