New York Times Brings Back Dividend Payout After Five-Year Break
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New York Times Co. said it will pay a dividend of 4 cents a share next month, its first shareholder payout since the end of 2008.
The newspaper publisher will make the payment to both its shareholder classes on Oct. 24 as part of a plan to reestablish a quarterly dividend, it said yesterday in a statement. The company had cash and short-term investments of $747 million at the end of last quarter, with debt of $694 million.