The New York Times Company (NYSE:NYT) Declares Quarterly Dividend of $0.23

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Friday, September 25th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.23 per share on Thursday, October 22nd. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 7th.

New York Times has raised its dividend payment by an average of 0.2%annually 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 39.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $3.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 29.6%.

New York Times Price Performance

New York Times stock opened at $62.78 on Monday. The stock’s 50 day moving average is $67.58 and its 200 day moving average is $73.76. The firm has a market cap of $10.13 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.62 and a beta of 0.93. New York Times has a one year low of $54.10 and a one year high of $87.10.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. New York Times had a return on equity of 22.64% and a net margin of 13.19%.The business had revenue of $762.46 million for the quarter, compared to analysts’ expectations of $752.01 million. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that New York Times will post 2.84 earnings per share for the current fiscal year.

About New York Times

The New York Times Company is a media and information company best known for publishing The New York Times, a global news organization founded in 1851. The company produces journalism across national and international news, politics, business, culture, science, sports and opinion, distributing its content through digital platforms and the newspaper’s print edition.

In addition to its core news business, the company offers a range of subscription products and services, including NYT Cooking, Games, Audio and Wirecutter, a product-recommendation service.