The Meredith Corporation‘s Board of Directors have returned from its annual strategic retreat with some good news for shareholders: On Saturday, it approved a 5.1% increase of its regular stock dividend to $2.08 per share on an annualized basis.
That’s an increase of 10 cents per share, with the company’s next quarterly dividend set for 52 cents per share and payable on March 15 to shareholders of record on Feb. 28.
Meredith has paid dividends for 70 consecutive years, the Des Moines, Iowa-based owner of 17 owned or operated television stations said, increasing them for 24 consecutive years.
Also at its annual strategic retreat came the election of Beth J. Kaplan to Meredith’s Board, as a Class III Director. Kaplan will stand for election at the next Meredith annual shareholders meeting for a full two-year term expiring Nov. 13, 2019.
Kaplan most recently served as President/COO of Rent the Runway, where she still serves on the board. She has served as President and Chief Marketing and Merchandising Officer at General Nutrition Corporation (GNC); EVP/GM of Bath & Body Works; Sr. EVP/Marketing, Merchandising and Distribution of Rite Aid; and President of Procter & Gamble’s U.S. Cosmetics Division.
She is currently a Venture Partner at Axcel Partners, where she advises and invests in emerging, high growth consumer businesses.