Scholastic Corporation (SCHL) to Distribute Quarterly Dividend of $0.25 on September 15th

Scholastic Corporation (NASDAQ:SCHL) announced a quarterly dividend on Wednesday, May 20th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.25 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 31st. This is a 25.0% increase from Scholastic’s previous quarterly dividend of $0.20.

Scholastic has raised its dividend payment by an average of 0.1%per year over the last three years.

Scholastic Trading Down 0.4%

NASDAQ:SCHL opened at $38.96 on Friday. The stock has a fifty day simple moving average of $43.34 and a 200 day simple moving average of $40.15. The firm has a market capitalization of $734.79 million, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. Scholastic has a 1-year low of $22.68 and a 1-year high of $48.07. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.10.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.03. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.The firm had revenue of $476.10 million for the quarter, compared to the consensus estimate of $517.06 million. During the same quarter in the previous year, the company earned $0.59 EPS. Sell-side analysts forecast that Scholastic will post 1.6 earnings per share for the current year.

Insider Activity at Scholastic

In other Scholastic news, Director Kaya Henderson sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $40.25, for a total transaction of $130,812.50. Following the completion of the sale, the director directly owned 7,113 shares in the company, valued at approximately $286,298.25. This trade represents a 31.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Iole Lucchese sold 289,624 shares of Scholastic stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the transaction, the executive vice president directly owned 289,623 shares in the company, valued at approximately $11,515,410.48. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 294,986 shares of company stock valued at $11,731,334. Company insiders own 12.77% of the company’s stock.

Institutional Trading of Scholastic

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Scholastic by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock valued at $262,000 after purchasing an additional 630 shares in the last quarter. Quantinno Capital Management LP lifted its position in Scholastic by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company’s stock worth $906,000 after buying an additional 729 shares in the last quarter. Deutsche Bank AG lifted its position in Scholastic by 4.1% in the 4th quarter. Deutsche Bank AG now owns 20,829 shares of the company’s stock worth $617,000 after buying an additional 824 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Scholastic during the 2nd quarter valued at $43,000. Finally, Public Sector Pension Investment Board grew its holdings in shares of Scholastic by 1.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 80,195 shares of the company’s stock valued at $1,682,000 after acquiring an additional 1,509 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.