Cash dividend payouts have become rather rare among publicly traded media companies, but not everyone has suspended them. The board of directors at Meredith Corporation is continuing intact the company’s 62-year string of dividend payments.
The board voted to declare a regular quarterly dividend of 22.5 cents per share, payable on December 15th to shareholders of record on November 30th. Meredith noted proudly that it has paid a dividend for 62 consecutive years and has increased its dividend for 16 consecutive years.
Meredith shareholders, at the company’s annual meeting Wednesday (11/4), re-elected three directors to terms expiring in 2012. They are: James R. Craigie, Chairman and Chief Executive Officer of Church & Dwight Inc.; Frederick B. Henry, President of the Bohen Foundation; and William T. Kerr, Chairman of Meredith Corporation.
Additionally, directors Herbert M. Baum and David J. Londoner retired from the board effective 11/4 after reaching the mandatory retirement age as set forth in Meredith’s corporate governance guidelines.