What’s the road ahead look like for Meredith Corp., the publisher of a variety of women’s lifestyle brands in addition to its collection of local TV stations across the U.S.?
Investors will find out on June 6 during a 90-minute presentation devoted expressly for them.
The company’s Investor Day event will begin at 8am and features presentations from Chairman/CEO Steve Lacy, President/COO Tom Harty, CFO Joe Ceryanec, Local Media Group President Paul Karpowicz, and National Media Group President Jon Werther.
Meredith’s Local Media Group is comprised of 17 TV stations across 13 Top 50 markets, including Atlanta, Phoenix, St. Louis, and Portland, Ore.
Meredith’s National Media Group is devoted to online platforms and glossy publications focused on food, home, parenting and health. Among the company’s better-known brands are Better Homes & Gardens, Allrecipes, Parents, SHAPE, Martha Stewart Living and The Magnolia Journal. The division also includes Meredith Xcelerated Marketing—a strategic and creative agency offering integrated marketing solutions for such brands as The Kraft Heinz Co., Bank of America, WebMD, Volkswagen and NBCUniversal.
The event will be webcast live, and a copy of the presentation will be available on Meredith’s website, in the Investor Events & Presentations section.
News of Meredith’s Investor Day comes after the company’s Board of Directors on May 10 declared a regular quarterly dividend of $0.52 per share, or $2.08 on an annual basis.
The dividend will be payable on June 15, to shareholders of record on May 31.
Investor Day plans also come after the April 28 revelation that Meredith Corp. will not be moving forward with an acquisition of Time Inc., ending eight weeks of talks.
Some Wall Street financial analysts opined that a Time buy would have allowed Meredith to spin its broadcasting arm—following in the footsteps of competitors such as Scripps and Tribune Media, which is merging with Sinclair Broadcast Group.
Since the announcement, Sinclair shares have fallen from $65.18 to $51.70, during Thursday’s trading. As of 12:22pm Eastern, Meredith shares were trading at $52.35.