14 Nov, 2019, 10:33 ET
DES MOINES, Iowa, Nov. 14, 2019 /PRNewswire/ -- The Meredith Corporation (NYSE:MDP; www.meredith.com) Board of Directors yesterday declared a regular quarterly dividend of $0.575 per share, or $2.30 on an annual basis. The dividend will be payable on December 13, 2019, to shareholders of record on November 29, 2019.
Meredith has a strong history of returning a growing amount of cash to shareholders, paying a dividend for 72 consecutive years and increasing its dividend for 26 years straight. The most recent increase happened in February 2019, when Meredith's Board of Directors increased it by 5.5 percent.
Since launching its Total Shareholder Return strategy in October 2011, Meredith has increased its annual dividend by $1.28, a 125 percent increase. Meredith's dividend currently yields approximately 6 percent.
ABOUT MEREDITH CORPORATION
Meredith Corporation has been committed to service journalism for more than 117 years. Today, Meredith uses multiple distribution platforms—including broadcast television, print, digital, mobile and video—to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith's National Media Group reaches over 185 million unduplicated American consumers every month, including nearly 90 percent of U.S. millennial women. Meredith is a leader in creating content across media platforms and life stages in key consumer interest areas such as entertainment, food, lifestyle, parenting and home. Meredith is the No. 1 magazine operator in the U.S., and owner of the largest premium content digital network for American consumers. Meredith's leading national brands include PEOPLE, Better Homes & Gardens, InStyle, Allrecipes, REAL SIMPLE, SHAPE, Southern Living and Martha Stewart Living. Meredith also features robust brand licensing activities including more than 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. and at walmart.com. Meredith's National Media Group also includes leading affinity marketer Synapse, and The Foundry, the company's state-of-the-art creative lab and content studio.
Meredith's Local Media Group includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 markets—including Atlanta, Phoenix, St. Louis and Portland—and 13 in the Top 50. Meredith's stations produce more than 700 hours of local news and entertainment content each week, and operate leading local digital destinations. Meredith also owns MNI Targeted Media, which delivers targeted advertising solutions to more than 1,200 clients on a local, regional and national level.
SOURCE Meredith Corporation
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