Scholastic Co. (NASDAQ:SCHL – Get Free Report) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.20 per share on Monday, December 16th. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 31st.
Scholastic has increased its dividend by an average of 10.1% per year over the last three years. Scholastic has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scholastic to earn $3.24 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 24.7%.
Scholastic Stock Up 1.3 %
SCHL opened at $32.01 on Friday. Scholastic has a 52 week low of $28.47 and a 52 week high of $41.79. The stock has a market cap of $903.96 million, a PE ratio of 22.08 and a beta of 1.03. The business has a 50 day moving average of $31.61 and a 200-day moving average of $34.57.
Insider Buying and Selling at Scholastic
In other news, EVP Iole Lucchese acquired 1,654 shares of Scholastic stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the transaction, the executive vice president now owns 74,264 shares in the company, valued at $2,264,309.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Iole Lucchese bought 1,654 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Warwick Peter purchased 1,674 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $30.46 per share, with a total value of $50,990.04. Following the transaction, the chief executive officer now owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The disclosure for this purchase can be found here. Company insiders own 18.62% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th.
Read Our Latest Stock Report on Scholastic
About Scholastic
Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.
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