News Corp to begin paying shareholders a semi-annual dividend
The dividend would mark the first time the Company has paid a dividend since the “new” News Corp was established as a separate, publicly traded company
NEW YORK, NY – June 18, 2015 — News Corp today announced plans to pay a cash dividend to stockholders. Subject to declaration by the Board of Directors, the Company expects to initiate a semi-annual cash dividend of approximately $0.10 per share in the first quarter of fiscal 2016, which begins on June 29, 2015, for payment in the second quarter.
“This decision by the Board is a sign of confidence in the state of our business and faith in our prospects for the future,” said Robert Thomson, Chief Executive of News Corp. “The planned dividend, combined with our ongoing buyback and strategy of balancing capital returns with prudent reinvestment, puts News Corp firmly on track for long-term growth and value creation.”
“In particular, I would like to note the significant early progress of realtor.com®, which has now become the fastest-growing digital real estate site in America. In addition, the integration of Harlequin with HarperCollins Publishers has created a powerful global and digital publishing platform,” said Mr. Thomson. “These investments are already starting to pay off and we expect will bring long-term benefits to all stockholders.”