This new dividend rate translates to an annual yield of 2.2 percent, calculated against the company's Wednesday closing stock price of $46.36. The distribution is scheduled for September 15. Investors who hold the stock by the close of business on August 31 will be eligible for the payment.
In section Market Quotes
Scholastic Lifts Quarterly Dividend Payout by 25 Percent
Scholastic shareholders are set for a pay bump after the publishing and education firm announced a 25 percent increase to its quarterly cash dividend. The board raised the payout to 25 cents per share, up from the previous 20-cent distribution, reflecting a shift in the company’s capital allocation strategy.
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