The New York Times Company (NYT) to Issue Quarterly Dividend of $0.23 on July 23rd

The New York Times Company (NYSE:NYTGet Free Report) announced a quarterly dividend on Friday, June 12th. Stockholders of record on Wednesday, July 8th will be paid a dividend of 0.23 per share on Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 8th.

New York Times has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 7 years. New York Times has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect New York Times to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.6%.

New York Times Stock Performance

Shares of NYT stock opened at $73.87 on Monday. New York Times has a 52-week low of $51.03 and a 52-week high of $87.10. The firm has a market capitalization of $11.96 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.53 and a beta of 0.96. The stock has a 50 day moving average price of $75.25 and a 200 day moving average price of $75.67.

New York Times (NYSE:NYTGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The company had revenue of $712.24 million for the quarter, compared to the consensus estimate of $699.93 million. During the same quarter in the prior year, the company posted $0.41 EPS. New York Times’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that New York Times will post 2.93 EPS for the current year.

New York Times Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for New York Times (NYSE:NYT)

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