News Corp Announces Plans to Initiate Dividend
June 18 2015 - 8:04AM
Business Wire
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.
The anticipated 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 in mid-2013.
“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.”
Forward-Looking Statements
This document contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management’s views and
assumptions regarding future events and business performance as of
the time the statements are made. Actual results may differ
materially from these expectations due to changes in global
economic, business, competitive market and regulatory and other
factors. More detailed information about these and other factors
that could affect future results is contained in News Corp’s
filings with the Securities and Exchange Commission. The
“forward-looking statements” included in this document are made
only as of the date of this document and we do not have any
obligation to publicly update any “forward-looking statements” to
reflect subsequent events or circumstances, except as required by
law.
About News Corp
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS,
NWSLV) is a global, diversified media and information services
company focused on creating and distributing authoritative and
engaging content to consumers throughout the world. The
company comprises businesses across a range of media, including:
news and information services, book publishing, cable network
programming in Australia, digital real estate services, digital
education, and pay-TV distribution in Australia. Headquartered
in New York, the activities of News Corporation are conducted
primarily in the United States, Australia, and the United Kingdom.
More information is available at: www.newscorp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150618005599/en/
News CorpMichael Florin, Investor Relations,
212-416-3363mflorin@newscorp.comorJim Kennedy, Corporate
Communications, 212-416-4064jkennedy@newscorp.com
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