E. W. Scripps (SSP) Announces Quarterly Dividend of $0.05

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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.

Further Reading: Do You Need a Fiduciary?

Dividend History for E. W. Scripps (NYSE:SSP)

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