E. W. Scripps (NYSE:SSP) announced a quarterly dividend on Wednesday, November 7th, RTT News reports. Investors of record on Friday, December 14th will be given a dividend of 0.05 per share on Wednesday, December 26th. This represents a $0.20 annualized dividend and a yield of 1.13%.
E. W. Scripps has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings.
Shares of SSP stock traded up $0.15 during mid-day trading on Wednesday, hitting $17.75. 13,868 shares of the stock traded hands, compared to its average volume of 431,343. E. W. Scripps has a twelve month low of $10.69 and a twelve month high of $18.20.
In related news, major shareholder Mary Peirce bought 8,795 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were acquired at an average cost of $16.33 per share, for a total transaction of $143,622.35. Following the acquisition, the insider now directly owns 290,912 shares of the company’s stock, valued at approximately $4,750,592.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles L. Barmonde bought 2,438 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $15.99 per share, for a total transaction of $38,983.62. Following the completion of the acquisition, the director now directly owns 17,632 shares in the company, valued at $281,935.68. The disclosure for this purchase can be found here. Insiders purchased a total of 264,309 shares of company stock worth $4,387,571 over the last 90 days. Insiders own 4.16% of the company’s stock.
SSP has been the topic of several research analyst reports. Noble Financial reiterated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a research report on Thursday, October 18th. Zacks Investment Research cut E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Stephens set a $15.00 price target on E. W. Scripps and gave the company a “hold” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.40.
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E. W. Scripps Company Profile
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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