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Art Slusark
Corporate
515.284.3404
Liz Malone
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News Releases

Meredith Corporation Board Of Directors Declares Quarterly Dividend

Company has paid a regular quarterly dividend for 70 consecutive years

Nov 8, 2017
4:55pm

DES MOINES, Iowa, Nov. 8, 2017 /PRNewswire/ -- The Meredith Corporation (NYSE:MDP; www.meredith.com) Board of Directors today declared a regular quarterly dividend of $0.52 per share, or $2.08 on an annual basis.  The dividend will be payable on December 15, 2017, to shareholders of record on November 30, 2017. 

Meredith introduces an updated market positioning and logo that reflect the strength of Meredith's national and local consumer media brands as well as its expanded portfolio of marketing solutions. (PRNewsFoto/Meredith Corporation) (PRNewsfoto/Meredith Corporation)

Meredith has a strong history of returning cash to shareholders, paying a dividend for 70 consecutive years and increasing its dividend for 24 years straight, including a 5.1 percent increase earlier this calendar year.  As an acknowledgment of its consistent track record of annual dividend increases, Meredith was added to the S&P High Yield Dividend Aristocrat Index earlier this year.

Meredith has delivered an average annual return of 19 percent since the launch of its Total Shareholder Return (TSR) strategy more than five years ago.  Key elements of Meredith's TSR strategy include:

  • An annual dividend yielding 4.0 percent based on today's closing price of $52.00.
  • An ongoing share repurchase program with $62 million remaining under current authorizations.
  • Strategic investments to scale the business and increase shareholder value.

ABOUT MEREDITH CORPORATION

Meredith Corporation has been committed to service journalism for 115 years.  Today, Meredith uses multiple distribution platforms — including broadcast television, print, digital, mobile and video — to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.

Meredith's Local Media Group includes 17 television stations reaching 11 percent of U.S. households.  Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 — including Atlanta, Phoenix, St. Louis and Portland — and 13 in Top 50 markets.  Meredith's stations produce 700 hours of local news and entertainment content each week, and operate leading local digital destinations.

Meredith's National Media Group reaches 110 million unduplicated women every month, including more than 70 percent of U.S. Millennial women.  Meredith is the leader in creating and distributing content across platforms in key consumer interest areas such as food, home, parenting and lifestyle through well-known brands such as Better Homes & Gardens, Allrecipes, Parents and Shape.  Meredith also features robust brand licensing activities, including more than 3,000 SKUs of branded products at 5,000 Walmart stores across the U.S. and at walmart.com. Meredith Xcelerated Marketing is an award-winning, strategic and creative agency that provides fully integrated marketing solutions.

 

SOURCE Meredith Corporation

For further information: Shareholder/Financial Analyst Contact: Mike Lovell, Director of Investor Relations, Phone: (515) 284-3622, E-mail: Mike.Lovell@meredith.com; Media Contact: Art Slusark, Chief Communications Officer, Phone: (515) 284-3404, E-mail: Art.Slusark@meredith.com