If you’re a shareholder of E.W. Scripps Co. stock, you better hold on to your stock until September 14.
You’re about to be rewarded with a nice little dividend, courtesy of the company that just unloaded its radio stations in Boise, Idaho and Tucson to Lotus Communications.
Scripps shareholders of record as of Sept. 14 will receive 5 cents per share on Sept. 25, 2018. The dividend will be paid out of the company’s capital surplus.
The cash dividend is the company’s third since reinitiating a quarterly dividend in February and comes one day after Scripps sold to Lotus four FMs and KFFN-AM and its translator in Tucson; and four FMs in Idaho’s biggest market, for the bargain price of $8 million.
At the Closing Bell on Wall Street, shares of SSP were up 8 cents to $14.59 on Wednesday.