Meredith Makes Payment On Increased Dividend Yielding 5%
Meredith Corporation (NYSE: MDP) today issued payment at its new higher annual dividend rate of $1.53 per share. At today's closing price of $30.65, the new dividend yields 5 percent annualized return to Meredith shareholders.
The dividend is 50 percent higher than a year ago, reflecting a substantial increase on October 25, 2011, that – in conjunction with a new authorization to repurchase $100 million of Meredith stock – builds on Meredith's commitment to returning cash to shareholders.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.