With Bill Kerr taking the CEO job at Arbitron, Steve Lacy has added Chairman to his titles at Meredith Corporation. The board of directors has also increase the company’s dividend payout.
The board announced that Lacy, already President and CEO, had been elected Chairman. Dianna Meredith Frazier was elected Vice Chairman of the board of directors.
Lacy, a member of the Meredith Corporation Board of Directors since 2004, joined the company as CFO in 1998. He was named President of the Meredith Publishing Group in 2000; President and COO in 2004; and President and CEO in 2006.
Frazier has been actively involved in Meredith’s business since 1976, including serving as Director of Corporate Planning through 2003. She joined the Meredith Corporation Board of Directors in 2000, and also serves as Chairman of the Meredith Corporation Foundation.
Also on Monday, the Meredith Board of Directors declared a quarterly dividend of 23 cents per share, payable on March 15th to shareholders of record on February 26th. The increase of two cents annually marks the 17th consecutive year that Meredith has increased its dividend. Meredith has paid a dividend for 63 consecutive years.
“This dividend increase reflects our confidence in Meredith’s strong national and local brands, solid connection to the consumer, and ability to grow market share. Additionally, we continue to maintain a conservative financial structure and have a track record of strong cash flow generation,” said Lacy.