Business News

Meredith Corporation Board Increases Quarterly Dividend 6.1 Percent

Wednesday 05. February 2014 - The Meredith Corporation (NYSE:MDP) Board of Directors on Saturday increased its regular quarterly dividend 6.1 percent to $0.4325 per share, or $1.73 on an annual basis. The new quarterly dividend will be payable on March 14, 2014, to shareholders of record on February 28, 2014.

Meredith has a strong history of paying dividends – 67 consecutive years – and increasing them over time – 21 years straight. Over the last decade, Meredith has grown its dividend at an average annualized rate of 14 percent. Meredith’s dividend currently yields approximately 4 percent based on Friday’s closing price of $45.78.
On October 25, 2011, Meredith announced a new Total Shareholder Return (TSR) strategy. Key elements include: (1) A dividend that currently pays $1.73 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.