New Media Investment Group (NEWM) Raises Quarterly Dividend 2.7% to $0.38; 9.7% Yield

New Media Investment Group (NYSE: NEWM) declared a quarterly dividend of $0.38 per share, or $1.52 annualized. This is a 2.7% increase from the prior dividend of $0.37.

The dividend will be payable on November 20, 2018, to stockholders of record on November 12, 2018, with an ex-dividend date of November 8, 2018.

The annual yield on the dividend is 9.7 percent.

“We had solid performance in the third quarter despite the impact to our southeast properties from Hurricane Florence,” said Michael E. Reed, New Media President and Chief Executive Officer. “Despite the hurricane impact in the quarter, we delivered strong As Adjusted EBITDA and Free Cash Flow growth of 18.9% and 13.6%, respectively. Revenue performed well also, with a small, but important, improvement in same store trend versus the second quarter. We continued to see exceptional growth within our newer business initiatives. The strong performance against our stated strategy led our board to declare an increase to the dividend, bringing our third quarter dividend to $0.38 per share, or $1.52 when annualized. This marks the fifth consecutive year that the dividend has been increased since our inception as a public company.”

For a dividend history and other dividend-related data on New Media Investment Group (NEWM) click here.

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