The New York Times Company (NYT) to Issue Quarterly Dividend of $0.18 on January 16th

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

New York Times has raised 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

NYSE:NYT opened at $70.80 on Friday. The firm has a market cap of $11.49 billion, a P/E ratio of 34.54, a P/E/G ratio of 1.76 and a beta of 1.16. New York Times has a fifty-two week low of $44.83 and a fifty-two week high of $71.07. The firm has a 50-day simple moving average of $61.99 and a two-hundred day simple moving average of $58.45.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping 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 firm had revenue of $700.82 million during the quarter, compared to analysts’ expectations of $692.01 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts predict that New York Times will post 2.08 EPS for the current year.

Institutional Investors Weigh In On New York Times

A number of institutional investors have recently bought and sold shares of the business. Jump Financial LLC raised its stake in shares of New York Times by 362.7% during the second quarter. Jump Financial LLC now owns 153,506 shares of the company’s stock valued at $8,593,000 after acquiring an additional 120,327 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in New York Times by 264.0% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock worth $949,000 after purchasing an additional 12,294 shares during the period. Robeco Institutional Asset Management B.V. raised its position in New York Times by 49.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after purchasing an additional 65,175 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of New York Times by 154.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock worth $3,685,000 after buying an additional 39,149 shares during the period. Finally, Abrams Bison Investments LLC purchased a new stake in shares of New York Times in the 2nd quarter worth $78,932,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.