Welcome to our dedicated page for Scholastic news (Ticker: SCHL), a resource for investors and traders seeking the latest updates and insights on Scholastic stock.
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, and a leading provider of both print and digital instructional materials from pre-kindergarten to grade 12. For over a century, Scholastic has been committed to fostering literacy and intellectual growth among children globally. The company is well-known for its diverse range of products that include best-selling books, e-books, and technology-based learning materials, as well as its classroom magazines and educational media.
Some of Scholastic's flagship titles include globally beloved series such as Harry Potter, The Hunger Games, Clifford the Big Red Dog, Goosebumps, and The Magic School Bus. These offerings are part of its three main business segments: Children's Book Publishing and Distribution, Education Solutions, and International.
Scholastic's recent initiatives highlight its continuous innovation in the educational field. The company has launched the 2023-2024 Teacher Fellows program, which collaborates with educators to develop effective classroom resources. Furthermore, the company's investment in 9 Story Media Group aims to expand its reach in children's media, enhancing its ability to bring quality educational content to various platforms.
In a recent partnership with Little Free Library, Scholastic has also demonstrated its commitment to increasing book accessibility by donating 50,000 copies of Dog Man to underserved communities. Another notable project is the
Scholastic Corporation (NASDAQ:SCHL) has scheduled its first quarter fiscal year 2023 earnings release for September 22, 2022, at 4:00 PM Eastern. The earnings will be accessible on the company's investor relations website. A conference call will follow at 4:30 PM, led by President and CEO Peter Warwick and CFO Kenneth Cleary. Participants can register online or by phone. An archived webcast will be available shortly after the call, ensuring stakeholders have access to the information.
Scholastic (NASDAQ: SCHL) has appointed Jeffrey Mathews as Executive Vice President, Corporate Development and Investor Relations, effective immediately. Mathews will join the executive committee to identify investment and partnership opportunities for growth. His role includes enhancing shareholder engagement and communicating with the investment community. Previously, he served as Managing Partner at Gagnier Communications and held various positions at Scholastic, contributing to corporate strategy and investor relations. The company aims to leverage his experience to strengthen its market position and stakeholder value.
Scholastic Corporation (NASDAQ: SCHL) announced the acquisition of Learning Ovations, the creator of the A2i literacy assessment and instructional system. This acquisition aims to enhance Scholastic's literacy platform by integrating data-driven assessments and professional learning resources with their existing portfolio. The A2i system, backed by extensive research, is proven to improve literacy outcomes in students aged preK-3, aligning with the Science of Reading. The transaction details were not disclosed, but this integration is seen as critical in supporting educators and enhancing children's reading success post-COVID disruptions.
Scholastic announced the launch of Dav Pilkey's Epic Comic Club, a global platform for kids to create comics, coinciding with the upcoming release of the new graphic novel DOG MAN: TWENTY THOUSAND FLEAS UNDER THE SEA on March 28, 2023. The platform offers a safe space for children to upload comics and access free resources. Dav Pilkey's books have sold over 50 million copies, with a movie adaptation in development. Scholastic aims to foster creativity among children and celebrate the upcoming 25th anniversary of the Captain Underpants series.
Scholastic Corporation (NASDAQ: SCHL) reported a robust financial performance for the fiscal fourth quarter and full year ended May 31, 2022. The company achieved a 28% year-over-year revenue growth to $514.4 million and a significant operating income increase of $55.8 million, totaling $65.5 million. This growth was driven by successful in-person book fairs and strong educational product demand. Scholastic expects 2023 revenue to rise by 8%-10% compared to fiscal 2022, and has raised its quarterly dividend by 33% to $0.20 per share, reflecting confidence in ongoing performance.
Scholastic Corporation (NASDAQ: SCHL) has announced a 33% increase in its quarterly dividend, raising it from $0.15 to $0.20 per share. This new dividend rate will take effect starting with the payment for the first quarter of fiscal 2023, set for September 15, 2022. Shareholders registered by August 31, 2022 will be eligible for this dividend. The annual dividend now stands at $0.80 per share, reflecting the company's commitment to returning value to its investors.
Scholastic Corporation (NASDAQ:SCHL) announced the schedule for its fourth quarter and fiscal year 2022 earnings release, set for July 21, 2022 at 4:00 PM Eastern Time. A conference call will follow at 4:30 PM, hosted by CEO Peter Warwick and CFO Kenneth Cleary. Investors can access the live webcast on the investor relations page of Scholastic's website. Archived webcasts and slides will be available post-call. Scholastic continues to be a leading provider of children’s books and educational materials, promoting literacy and learning globally.
Scholastic will publish BIG TREE, an illustrated novel by Brian Selznick, on April 4, 2023, globally. Inspired by an idea from Steven Spielberg and guided by Chris Meledandri of Illumination, this ambitious 528-page book follows two sycamore seeds, Louise and Merwin, on an epic adventure to save the world. The novel is richly illustrated with nearly 300 graphite images and is aimed at readers aged seven and up. It promotes themes of nature and resilience, printed on FSC-certified paper, reflecting Scholastic's commitment to education and environmental responsibility.
The Governor's Early Literacy Foundation, in partnership with Scholastic, is expanding its K-3 Home Library program across Tennessee, aiming to combat summer learning loss. The initiative will deliver 970,000 books to 162,000 teachers and students this summer, providing each participant with six age-appropriate books at no cost. This is part of a larger effort to improve literacy, as only 32% of Tennessee's third graders read proficiently. The program has grown by 403% since 2020 and aims to foster a culture of reading and academic success.
Scholastic has launched its Summer Reading program, running until August 19, to enhance children's reading experiences and support academic growth. Hosted on Scholastic Home Base, the program allows kids to read free e-books, attend virtual author events, and contribute to unlocking a donation of 100,000 books through Save the Children. The initiative aims to address the lack of access to books for many children in rural America. Participating kids can earn rewards, join reading circles, and share progress with caregivers.
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