Scripps shareholders of record as of March 16 will receive 5 cents per share, payable on March 25. The company also authorized a share repurchase program of up to $100 million of Class A shares running through March 1, 2022.
Scripps Declares Dividend, Share Repurchase
The board of directors of The E.W. Scripps Co. today declared a cash dividend for the first quarter of 2020 and authorized a new share repurchase program up to $100 million of the company’s Class A common shares.
Scripps shareholders of record as of March 16 will receive 5 cents per share, payable on March 25. The dividend will be paid out of the company’s surplus.
The company said it intends to pay regular quarterly cash dividends for the foreseeable future. All subsequent dividends will be reviewed quarterly and declared by the board at its discretion. The declaration and payment of future dividends will be dependent upon, among other things, the company’s financial position, results of operations, cash flow and other factors.
Scripps added that its shares may be repurchased from time to time at management’s discretion, either in the open market, through pre-arranged trading plans or in privately negotiated block transactions. This authorization runs through March 1, 2022.
The last repurchase program, which the board of directors initially authorized in November 2016 and extended in June 2018, expires March 1, 2020.
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