New York Times Co. slashes dividend 74%


Shareholders of the New York Times Company are now going to be paid a quarterly dividend of six cents per share, down sharply from the previous 23 cents. “This was a difficult but necessary decision that will provide us with greater financial flexibility in these uncertain economic times. Most industries are feeling the need to conserve cash and ours is as well, particularly given the secular challenges we face,” said Chairman Arthur Sulzberger Jr.