TEGNA Inc.’s Board of Directors today declared a dividend payable on January 2, 2020.
The dividend of 7 cents per share is applicable to stockholders of record as of the close of business on December 6.
Commenting on the decision, TEGNA EVP/CFO Victoria Harker said, “TEGNA continues to create value for our shareholders through our operational excellence, rigorous financial discipline, and execution on key strategic initiatives.”
As of 2:07pm Eastern on Tuesday (10/22), TEGNA shares were at $15.99, up 5 cents from Monday’s close.
TGNA carries a 1-year target estimate of $18.
There’s a good chance that will happen with relative ease. TEGNA is trading near its year-to-date high and has been a strong performer since the start of the third quarter.
In fact, TEGNA shares are exactly $5 higher than they were at the start of 2019.