Scholastic Corp (SCHL) Announces Quarterly Dividend of $0.15

Scholastic Corp (NASDAQ:SCHL) announced a quarterly dividend on Wednesday, March 20th, RTT News reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.15 per share on Monday, June 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%.

Scholastic has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Scholastic to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.1%.

Shares of SCHL traded up $0.18 on Wednesday, reaching $39.64. 2,248 shares of the company’s stock traded hands, compared to its average volume of 117,888. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 27.74 and a beta of 0.76. Scholastic has a 52-week low of $33.85 and a 52-week high of $47.94.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, December 20th. The company reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.16 by ($0.07). The business had revenue of $604.70 million for the quarter, compared to analysts’ expectations of $602.20 million. Scholastic had a net margin of 0.72% and a return on equity of 4.36%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.81) earnings per share. Sell-side analysts anticipate that Scholastic will post 1.53 EPS for the current year.

In other news, EVP Andrews S. Hedden sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $40.96, for a total value of $81,920.00. Following the sale, the executive vice president now directly owns 42,592 shares of the company’s stock, valued at approximately $1,744,568.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Judith Newman sold 3,587 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $41.65, for a total value of $149,398.55. Following the completion of the sale, the executive vice president now directly owns 12,748 shares in the company, valued at $530,954.20. The disclosure for this sale can be found here. 21.79% of the stock is currently owned by insiders.

A number of analysts have issued reports on the company. Zacks Investment Research raised Scholastic from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 21st. ValuEngine lowered Scholastic from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub lowered Scholastic from a “buy” rating to a “hold” rating in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.00.

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Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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Dividend History for Scholastic (NASDAQ:SCHL)

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