Scholastic Corporation (NASDAQ:SCHL) Announces $0.20 Quarterly Dividend

Key Points

• Scholastic Corporation announced a quarterly dividend of $0.20 per share, payable on December 15, 2023, to shareholders of record as of October 31, 2023, reflecting an annualized yield of 2.9%.
• The company reported earnings of $0.87 per share for the last quarter, exceeding analyst expectations, with revenue of $508.30 million surpassing estimates.
• Institutional investors hold a significant portion of Scholastic's stock, with 82.57% owned by hedge funds and other large investors who have recently increased their stakes in the company.

Scholastic Corporation (NASDAQ:SCHL - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Stockholders of record on Friday, October 31st will be paid a dividend of 0.20 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, October 31st.

Scholastic Stock Down 12.0%

Shares of NASDAQ SCHL traded down $3.31 during mid-day trading on Friday, reaching $24.23. 2,114,106 shares of the company traded hands, compared to its average volume of 266,026. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.76 and a current ratio of 1.16. The stock has a market cap of $606.96 million, a PE ratio of -36.71 and a beta of 1.24. The company's fifty day moving average is $24.97 and its two-hundred day moving average is $20.92. Scholastic has a fifty-two week low of $15.77 and a fifty-two week high of $34.18.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its earnings results on Thursday, September 18th. The company reported ($2.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.44) by ($0.08). The business had revenue of $225.60 million during the quarter, compared to analyst estimates of $240.41 million. Scholastic had a negative net margin of 0.65% and a positive return on equity of 1.08%. During the same period last year, the business earned ($2.13) EPS. Scholastic has set its FY 2026 guidance at EPS. On average, analysts expect that Scholastic will post 0.84 earnings per share for the current year.

About Scholastic

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education Solutions, and International. The Children's Book Publishing and Distribution segment engages in publication and distribution of children's print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.