NY Times Co. Ups Quarterly Dividend
March 23, 2007 at 5:46 AM (PT)
The NEW YORK TIMES CO. is increasing its quarterly dividend 31%, from 17.5 to 23 cents/share, payable JUNE 13 to shareholders of record as of JUNE 1.
The move follows the sale of the company's TV stations for $575 million and the sale of WQEW-A/NEW YORK to DISNEY, which has LMAd the station for several years, for $40 million and precedes the company's APRIL 24 shareholder meeting, at which criticism of the company's flat stock performance is expected.
The TIMES is retaining one radio property, Classical WQXR/NEW YORK.