The new payout will be $0.3825 per share, or $1.53 on an annual basis. Anybody wishing to partake of this bounty needs to be a shareholder of record as of 5/13/12. The dividend will be paid 6/15/12.
“The dividend is 50% higher than a year ago, reflecting a substantial increase on October 25, 2011, that – in conjunction with a new authorization to repurchase $100 million of Meredith stock – builds on Meredith’s commitment to returning cash to shareholders,” said the company in a statement.
In addition to its platoon of local broadcast television stations, Meredith is the publisher of consumer magazines including Better Homes and Gardens, Parents, Family Circle, Allrecipes.com, Ladies’ Home Journal, Fitness, More, American Baby, Every Day with Rachael Ray and FamilyFun.