News Corp (NWSA) May Boost Dividend, Accelerate Buybacks to Gain Investor Confidence
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News Corp (Nasdaq: NWSA) shares are trading slightly higher Tuesday morning following reports the company may dole out more cash to attract investor interest.
According to early-morning reports, News Corp is looking to make amends with investors from its recent scandal by raising its quarterly dividend by as much as 20 percent.
The announcement should be made with its earnings release Wednesday (August 10th). Bloomberg estimates the dividend will increase from 7.5 cents to 9 cents per share. At that quarterly rate, the yield will jump from 2.2 percent to 2.6 percent.
Some speculate the company will announce a fresh $5 billion common stock repurchase program.
Since July 4th, shares have fallen more than 25 percent following revelation of a phone-hacking scandal by the media giant.
Chairman Rupert Murdoch, who testified in London a few weeks ago about the scandal, is expected to be on the call, according to persons familiar with the situation.
News Corp shares are up about 0.3 percent early Tuesday.
According to early-morning reports, News Corp is looking to make amends with investors from its recent scandal by raising its quarterly dividend by as much as 20 percent.
The announcement should be made with its earnings release Wednesday (August 10th). Bloomberg estimates the dividend will increase from 7.5 cents to 9 cents per share. At that quarterly rate, the yield will jump from 2.2 percent to 2.6 percent.
Some speculate the company will announce a fresh $5 billion common stock repurchase program.
Since July 4th, shares have fallen more than 25 percent following revelation of a phone-hacking scandal by the media giant.
Chairman Rupert Murdoch, who testified in London a few weeks ago about the scandal, is expected to be on the call, according to persons familiar with the situation.
News Corp shares are up about 0.3 percent early Tuesday.
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