The New York Times Company (NYSE:NYT) Stock to Pay Quarterly Dividend of $0.23

Key Points

• New York Times declared a quarterly dividend of $0.23 per share, payable October 22 to shareholders of record on October 7. The annualized dividend is $0.92 per share, yielding approximately 1.5%.
• The dividend appears well covered, with a current payout ratio of 39.3% and an expected future payout ratio of 29.6%. The company has increased its dividend for seven consecutive years.
• New York Times exceeded quarterly earnings and revenue expectations, reporting EPS of $0.69 and revenue of $762.46 million, up 11.2% year over year. Institutional investors own approximately 95.4% of the company’s stock.

The New York Times Company (NYSE:NYT - Get Free Report) announced a quarterly dividend on Friday, September 25th. Investors of record on Wednesday, October 7th will be paid a dividend of $0.23 per share on Thursday, October 22nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 7th.

New York Times has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. New York Times has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $3.11 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 29.6%.

New York Times Stock Up 0.1%

Shares of NYT stock opened at $62.78 on Monday. New York Times has a 12-month low of $54.10 and a 12-month high of $87.10. The firm has a fifty day moving average of $67.58 and a 200-day moving average of $73.76. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.93.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The business had revenue of $762.46 million for the quarter, compared to analyst estimates of $752.01 million. During the same period last year, the business posted $0.58 earnings per share. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts expect that New York Times will post 2.84 earnings per share for the current year.

Institutional Investors Weigh In On New York Times

Institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new stake in New York Times in the second quarter worth approximately $2,565,000. Resona Asset Management Co. Ltd. purchased a new position in New York Times during the 1st quarter valued at $1,752,000. Berkshire Hathaway Inc bought a new position in shares of New York Times in the 4th quarter worth approximately $351,664,000. Engineers Gate Manager LP lifted its stake in shares of New York Times by 832.5% during the 2nd quarter. Engineers Gate Manager LP now owns 50,791 shares of the company's stock valued at $3,554,000 after buying an additional 45,344 shares in the last quarter. Finally, LGT Fund Management Co Ltd. lifted its stake in shares of New York Times by 27.8% during the 1st quarter. LGT Fund Management Co Ltd. now owns 70,463 shares of the company's stock worth $5,900,000 after acquiring an additional 15,321 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

About New York Times

The New York Times Company is a media and information company best known for publishing The New York Times, a global news organization founded in 1851. The company produces journalism across national and international news, politics, business, culture, science, sports and opinion, distributing its content through digital platforms and the newspaper's print edition.

In addition to its core news business, the company offers a range of subscription products and services, including NYT Cooking, Games, Audio and Wirecutter, a product-recommendation service.

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