Meredith announces dividend, raises outlook


MeredithShareholders of record should find a little something extra in their bank account from a 12/14/12 dividend distribution from television and magazine company Meredith Corporation. The company is also letting people know its fiscal Q2 is coming home better than previously announced.

The dividend will amount to $0.3825 per share, and will go to shareholders of record as of 11/30/12 – so there’s still time to get in on it.

Meredith says this marks the 65th consecutive year of dividend payments, and the 19th consecutive year in which the dividend payments increased.

Meanwhile, the endgame of the 2012 political season brought in even more cash than the company expected on the television side, which it includes in its Local Media Group. Previously, the company had announced expected earnings per share to be in the $0.80-$0.85 range. It has now raised expected EPS to the $0.85-$0.90 range, an increase of five cents per share. It’s looking for earnings per share for fiscal 2013 to land in the $2.60-$2.95 range.