UPDATE: John Wiley & Sons (JW-A) Raises Quarterly Dividend 3.3% to $0.31; Approves 4M Share Stock Buyback

John Wiley & Sons (NYSE: JW-A) declared a quarterly dividend of $0.31 per share, or $1.24 annualized. This is a 3.3% increase from the prior dividend of $0.30.

The dividend will be payable on July 20, 2016, to stockholders of record on July 6, 2016, with an ex-dividend date of July 1, 2016.

The annual yield on the dividend is 2.4 percent.

In addition to the dividend increase, the Board of Directors has approved a 4 million share repurchase program. Under the program, Wiley may purchase shares of its common stock, depending upon market conditions, in open market or privately negotiated transactions. In fiscal year 2016 ending April 30, Wiley repurchased 1.4 million shares for $70 million, an average cost of $48.86. When combined with remaining shares in the previous program, the Company will now have a total repurchase authorization of 4,747,000 shares.

“We take great pride in our strong long term cash flow performance and return of cash to shareholders,” said Mark Allin, Wiley’s President and CEO. “Going forward, we will look to make strategic acquisitions in the growth areas of knowledge and learning while continuing to reward our long term shareholders.”

Finally, the Wiley Board of Directors has set the date of the Annual Meeting of Shareholders as Thursday, September 22, 2016. It will be held at 8:00 am EST at the Company's headquarters in Hoboken, NJ. The Board of Directors set the record date for the Annual Meeting as July 29, 2016.

For a dividend history and other dividend-related data on John Wiley & Sons (JW-A) click here.

You May Also Be Interested In

• Atmus Filtration Technologies (ATMU) Raises Quarterly Dividend 9.1% to $0.06; 0.5% Yield
• United Community Banks Inc. (UCB) Raises Quarterly Dividend 4% to $0.26; 2.8% Yield
• COPT Defense Properties (CDP) Declares $0.32 Quarterly Dividend; 3.4% Yield