FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser GalleyCat SocialTimes

NY Times to Pay Dividend for First Time in Five Years

NYTimesMark Thompson, president and CEO of The New York Times, has made some investors happy. In a statement, he said that the Times Company board decided “That the strength of the balance sheet justified the restoration of a dividend.” It’s the first dividend being paid out by the Times in five years. Starting in late October, shareholders will get four cents per share.

The dividend — which will be doled out a week before the Times announces its third quarter report — applies to Class A and B shares, and will cost the company about $24 million a year.

Despite this move, Thompson emphasized caution going forward. ”Given the expectation of continued volatility in advertising revenue and the fact that our growth strategy is at an early stage of development, we will maintain a prudent view of both the balance sheet and free cash flow,” he said.

Mediabistro Course

Copy Editing: Intro

Copy Editing: IntroStarting January 6, learn basic copy editing skills using the AP Stylebook! In this course, you'll learn how to use dictionaries and online reference tools to edit work, ask the right questions to clarify convoluted copy, prepare for a copy editing test, and tailor your resume to find more work as a copy editor. Register now!