E. W. Scripps (NYSE:SSP) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.05 per share on Tuesday, June 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, June 13th.
E. W. Scripps has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings.
Shares of SSP stock traded down $0.34 during trading hours on Friday, reaching $15.22. 391,400 shares of the stock traded hands, compared to its average volume of 449,381. E. W. Scripps has a 1-year low of $12.16 and a 1-year high of $23.41.
In other news, CFO Lisa A. Knutson sold 4,406 shares of E. W. Scripps stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $21.41, for a total value of $94,332.46. Following the sale, the chief financial officer now directly owns 39,794 shares in the company, valued at $851,989.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William H. Scripps sold 80,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $16.11, for a total transaction of $1,288,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 85,806 shares of company stock worth $1,414,647 over the last 90 days. Corporate insiders own 4.16% of the company’s stock.
A number of brokerages have weighed in on SSP. Zacks Investment Research raised shares of E. W. Scripps from a “sell” rating to a “hold” rating in a report on Tuesday. Noble Financial restated a “buy” rating and issued a $25.00 price objective on shares of E. W. Scripps in a research report on Wednesday, May 15th. Finally, Benchmark reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $22.00) on shares of E. W. Scripps in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.75.
About E. W. Scripps
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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