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Form 8-K E.W. SCRIPPS Co For: Feb 15

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February 16, 2018 2:39 PM EST


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report: February 15, 2018
(Date of earliest event reported)
 
THE E.W. SCRIPPS COMPANY
(Exact name of registrant as specified in its charter)
 
Ohio
0-16914
31-1223339
(State or other jurisdiction of
incorporation or organization)
(Commission
File Number)
(I.R.S. Employer
Identification Number)
 
312 Walnut Street
Cincinnati, Ohio
 
 
 
45202
(Address of principal executive offices)
 
 
 
(Zip Code)
Registrant’s telephone number, including area code: (513) 977-3000
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




THE E.W. SCRIPPS COMPANY
INDEX TO CURRENT REPORT ON FORM 8-K

Item No.
 
Page
 
 
 
8.01
Other Events
3
 
 
 
9.01
Financial Statements and Exhibits
3


2


Item 8.01 Other Events

The E.W. Scripps Company has issued a release initiating a quarterly dividend. The dividend will be paid out of the Company's surplus as defined under the Ohio General Corporation Law. A copy of the press release issued is filed with this Form 8-K and is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits
Exhibit
Number
 
Description of Item
 
 
 
 
Press release dated February 15, 2018



3


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
THE E.W. SCRIPPS COMPANY
 
 
BY:
 
/s/ Douglas F. Lyons
 
 
Douglas F. Lyons
 
 
Senior Vice President, Controller and Treasurer
 
 
(Principal Accounting Officer)
Dated: February 16, 2018


4


Exhibit 99.1
 prheader.jpg

Scripps initiates quarterly dividend

Feb. 15, 2018
 
 

CINCINNATI — The board of directors of The E.W. Scripps Company (NYSE: SSP) has declared a cash dividend for the first quarter of 2018.

Scripps shareholders of record as of March 1, 2018, will receive 5 cents per share, payable on March 26, 2018. The dividend will be paid out of the company’s surplus.

This will mark the first time the company has paid a quarterly dividend since 2008.

“The decision by our board to initiate a quarterly dividend is a sign of confidence in the state of our business and faith in our strategy for the future,” said Adam Symson, Scripps president and chief executive officer. “We’re focused on strengthening our local media operations, anchored by our television stations, while we support the long-term value creation we see in the high-growth businesses we have in Katz, Midroll and Newsy.”

While the company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the board at its discretion. The declaration and payment of future dividends will be dependent upon, among other things, the company’s financial position, results of operations, cash flow and other factors.
Forward-looking statements
This press release contains certain forward-looking statements related to the company’s businesses that are based on management’s current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. Such forward-looking statements are made as of the date of this document and should be evaluated with the understanding of their inherent uncertainty. A detailed discussion of principal risks and uncertainties that may cause actual results and events to differ materially from such forward-looking statements is included in the company’s Form 10-K on file with the SEC in the section titled “Risk Factors.” The company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made.
About Scripps
The E.W Scripps Company (NYSE: SSP) serves audiences and businesses through a growing portfolio of local and national media brands. With 33 television stations, Scripps is one of the nation’s largest independent TV station owners. Scripps runs an expanding collection of national journalism and content businesses, including Newsy, the next-generation national news network; podcast industry leader Midroll Media; and fast-growing national broadcast networks Bounce, Grit, Escape and Laff. Scripps produces original programming including "Pickler & Ben," runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”





Investor contact:
Carolyn Micheli, The E.W. Scripps Company, 513-977-3732, [email protected]

Media contact:
Kari Wethington, The E.W. Scripps Company, 513-977-3763, [email protected]



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