Business News

Meredith Corporation Board Of Directors Declares Quarterly Dividend

Monday 13. May 2013 - The Meredith Corporation (NYSE: MDP) Board of Directors on Wednesday declared a regular quarterly dividend of $0.4075 per share, or $1.63 on an annual basis. The new dividend will be payable on June 14, 2013, to shareholders of record on May 31, 2013.

Meredith has paid a dividend for 66 consecutive years and increased it for 20 years straight. Most recently, Meredith raised its annualized dividend by 6.5 percent on Feb. 3, 2013.
Meredith’s dividend currently yields 4 percent based on Thursday, May 9’s closing price of $40.88.
On October 25, 2011, Meredith announced a new Total Shareholder Return (TSR) strategy. Key elements include: (1) A dividend that currently pays $1.63 per share annually; (2) A $100 million share repurchase program; and (3) Ongoing strategic investments to scale the business and increase shareholder value over time.