The New York Times Company (NYSE:NYT) Increases Dividend to $0.23 Per Share

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Wednesday, February 4th. Stockholders of record on Wednesday, April 1st will be paid a dividend of 0.23 per share on Thursday, April 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 1st. This is a 27.8% increase from New York Times’s previous quarterly dividend of $0.18.

New York Times has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. New York Times has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.6%.

New York Times Price Performance

NYSE NYT traded down $0.07 during trading hours on Thursday, reaching $67.56. 236,080 shares of the company’s stock traded hands, compared to its average volume of 1,871,762. New York Times has a 52-week low of $44.83 and a 52-week high of $74.04. The firm has a 50-day simple moving average of $69.54 and a 200 day simple moving average of $62.07. The firm has a market cap of $10.97 billion, a PE ratio of 32.98, a PEG ratio of 1.57 and a beta of 1.11.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $791.55 million. New York Times had a return on equity of 20.30% and a net margin of 12.29%.The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. Sell-side analysts forecast that New York Times will post 2.08 EPS for the current fiscal year.

About New York Times

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.