New York Times Company (NYSE:NYT) has disclosed an unchanged dividend, which will be paid on April 21. Shareholders of record on April 6 will receive a dividend of $0.04 a share. The ex-dividend date is April 4. This shows an annualized dividend of $0.16 and a dividend yield of 1.25%.
The company released its latest quarterly results on February 4. New York Times reported earnings per share (EPS) of $0.37, beating analysts’ predictions of $0.30. For the period, it had total revenue of $444.70 million, well above analysts’ estimates of $439 million. During the same quarter last year, New York Times posted an EPS of $0.38.
The company gave a forecast that its overall advertising revenue for the first quarter of 2016 will slip by about 2% to 4%. New York Times expect the Total circulation revenues to increase by 1.3%. In the previous quarter, New York Times had total advertising revenue of $204.85 million, down by 1.30% from the same period last year.
Being a media conglomerate, advertising is an essential source of the company’s total revenue.
New York Times’ operating profit climbed to $87.67 million during the fourth quarter, well above last year’s $62.42 million. Its adjusting operating profit came in at $117.74 million, well above the $103.90 million recorded during the same period in the previous year.
For the full year, New York Times had an operating profit of $136.60 million, well above the $91.90 million of 2015.
Earlier this week, New York Times unveiled that Marie-Amélie Sauvé will serve as the new Fashion Director of T Magazine. Deborah Needleman, T Magazine Editor-in-Chief, said that Sauvé possesses a flawless talent of styling and that she can deliver her ideas well.
Sauvé is one of the most influential fashion stylists of today. Being in the global fashion industry for over 20 years, she has helped establish numerous luxury brands with her creativity.
Patrick Li, T Magazine Creative Director, expressed that he is thrilled to work with Sauvé. With her leadership and prowess, Li believes that Sauvé will make T Magazine “more alive than ever”.
T Magazine is issued 13 times annually by New York Times, covering latest fashion trends and exquisite global brands.