The New York Times Company Plans Quarterly Dividend of $0.18 (NYSE:NYT)

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, December 18th. Investors of record on Tuesday, January 6th will be paid a dividend of 0.18 per share on Friday, January 16th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, January 6th.

New York Times has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. New York Times has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.4%

NYSE:NYT opened at $70.93 on Friday. New York Times has a 12-month low of $44.83 and a 12-month high of $70.93. The stock’s 50 day moving average price is $61.67 and its two-hundred day moving average price is $58.35. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 1.73 and a beta of 1.16.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 20.30% and a net margin of 12.29%.The business had revenue of $700.82 million during the quarter, compared to the consensus estimate of $692.01 million. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that New York Times will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of New York Times by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock worth $134,292,000 after buying an additional 211,062 shares during the last quarter. Ethic Inc. lifted its stake in shares of New York Times by 23.0% during the 1st quarter. Ethic Inc. now owns 12,606 shares of the company’s stock valued at $632,000 after buying an additional 2,358 shares in the last quarter. American Century Companies Inc. grew its stake in New York Times by 15.7% in the 1st quarter. American Century Companies Inc. now owns 131,040 shares of the company’s stock valued at $6,500,000 after buying an additional 17,772 shares in the last quarter. Raymond James Financial Inc. raised its holdings in New York Times by 331.6% during the 1st quarter. Raymond James Financial Inc. now owns 128,078 shares of the company’s stock valued at $6,353,000 after acquiring an additional 98,405 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of New York Times by 2.8% in the first quarter. Northern Trust Corp now owns 1,480,232 shares of the company’s stock worth $73,420,000 after acquiring an additional 40,611 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.