The board of directors of The E.W. Scripps Company has declared a cash dividend for the third quarter of 2019.
That didn’t prevent investors from selling shares of SSP on Wednesday, leading to a 3.3% decline.
Scripps shareholders of record as of Sept. 13 will receive 5 cents per share, payable on Sept. 25, 2019. The dividend will be paid out of the company’s surplus, the company said.
The announcement came ahead of Q2 earnings expected for a Friday release (8/9).
Scripps shares were down to $14.42 on Wednesday. That’s a fresh year-to-date low and rewinds the clock to exactly one year ago for the company, erasing a gain to $22.87 seen in early April 2019.