Meredith Corporation Increases Dividend by 50%; Authorizes $100M Stock Repurchase Program

The Meredith Corporation's MDP Board of Directors approved the following actions: A 50 percent increase in the dividend paid on Meredith stock, raising the annual payout from $1.02 to $1.53 per share. The next and higher quarterly dividend will be payable on December 15, 2011, to shareholders of record at the close of business on November 30, 2011. Authorization to repurchase $100 million of Meredith's common stock.