CINCINNATI, Feb. 15, 2018 /PRNewswire/ -- The board of
directors of The E.W. Scripps Company (NYSE: SSP) has declared a
cash dividend for the first quarter of 2018.
Scripps shareholders of record as of March 1, 2018, will receive 5 cents per share, payable on March 26, 2018. The dividend will be paid out of
the company's surplus.
This will mark the first time the company has paid a quarterly
dividend since 2008.
"The decision by our board to initiate a quarterly dividend is a
sign of confidence in the state of our business and faith in our
strategy for the future," said Adam
Symson, Scripps president and chief executive officer.
"We're focused on strengthening our local media operations,
anchored by our television stations, while we support the long-term
value creation we see in the high-growth businesses we have in
Katz, Midroll and Newsy."
While the company intends to pay regular quarterly cash dividends
for the foreseeable future, all subsequent dividends will be
reviewed quarterly and declared by the board at its discretion. The
declaration and payment of future dividends will be dependent upon,
among other things, the company's financial position, results of
operations, cash flow and other factors.
Forward-looking statements
This press release contains
certain forward-looking statements related to the company's
businesses that are based on management's current expectations.
Forward-looking statements are subject to certain risks, trends and
uncertainties, including changes in advertising demand and other
economic conditions that could cause actual results to differ
materially from the expectations expressed in forward-looking
statements. Such forward-looking statements are made as of the date
of this document and should be evaluated with the understanding of
their inherent uncertainty. A detailed discussion of principal
risks and uncertainties that may cause actual results and events to
differ materially from such forward-looking statements is included
in the company's Form 10-K on file with the SEC in the section
titled "Risk Factors." The company undertakes no obligation to
publicly update any forward-looking statements to reflect events or
circumstances after the date the statement is made.
About Scripps
The E.W. Scripps Company (NYSE: SSP) serves audiences and
businesses through a growing portfolio of local and national media
brands. With 33 television stations, Scripps is one of the nation's
largest independent TV station owners. Scripps runs an expanding
collection of national journalism and content businesses, including
Newsy, the next-generation national news network; podcast industry
leader Midroll Media; and fast-growing national broadcast networks
Bounce, Grit, Escape and Laff. Scripps produces original
programming including "Pickler & Ben," runs an award-winning
investigative reporting newsroom in Washington, D.C., and is the longtime steward
of the Scripps National Spelling Bee. Founded in 1878, Scripps has
held for decades to the motto, "Give light and the people will find
their own way."
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SOURCE The E.W. Scripps Company