New Media Investment Group (NEWM) Declares $0.38 Quarterly Dividend; 11.1% Yield

New Media Investment Group (NYSE: NEWM) declared a quarterly dividend of $0.38 per share, or $1.52 annualized.

The dividend will be payable on March 20, 2019, to stockholders of record on March 11, 2019, with an ex-dividend date of March 8, 2019.

The annual yield on the dividend is 11.1 percent.

“2018 was a year of strong progress for New Media,” said Michael E. Reed, New Media President and Chief Executive Officer. “I am very pleased with the operational execution and the financial results we achieved across many areas of our business. Importantly, our same store revenue trends improved 60bps in 2018 to a decrease of 5.3%, an improvement from the 5.9% decline in 2017. We expect continued improvement in that trend in 2019, as we progress toward our goal of same store revenue growth. Overall, we delivered just over $1.5 billion in revenue for the year, an increase of 13.7% over 2017. We also delivered $181.8 million of EBITDA and $131.9 million of Free Cash Flow, both increasing over 2017. We deployed over $200 million of capital in 2018 acquiring leading media and experiential businesses in important markets which are already integrating well into our portfolio. Our track record illustrates that we are seen as a preferred acquirer of local news franchises, due to our commitment to quality local journalism and the successful execution of our business model. As a result of the continued strength of the Company’s operations and financial results, the Company’s Board of Directors increased the dividend in 2018 for the fifth consecutive year, paying total dividends in 2018 of $1.49 per share.

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

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