E. W. Scripps (SSP) Declares Quarterly Dividend of $0.05

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.

E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, May 10th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The business had revenue of $292.20 million for the quarter, compared to the consensus estimate of $288.81 million. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share.

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.

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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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Dividend History for E. W. Scripps (NYSE:SSP)

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