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 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.
Scholastic Kids Press has launched its annual call for applications, inviting students aged 10-14 to apply for the 2022-23 school year. This initiative, designed to empower young journalists, allows participants to cover issues relevant to children worldwide. Alongside this, Scholastic is introducing Reporting the News, a free resource featuring five lessons, activity pages, and 'how-to' videos aimed at enhancing media literacy and journalism skills for students in grades 4-6. Applications are due by June 1, 2022.
The New Worlds Reading Initiative, aimed at enhancing literacy among Florida's K-5 students, celebrates a milestone of enrolling over 100,000 children within five months. Funded by a $200 million state budget appropriation, the initiative delivers a free book monthly to participants, totaling nine books per year. Managed by the University of Florida's Lastinger Center, it has distributed more than 335,529 books. Plans to reach an additional 400,000 eligible students within five years are underway, highlighting the initiative's goal of fostering a lifelong love of reading.
On March 21, 2022, Scholastic (NASDAQ: SCHL) announced the appointment of Cristina Juvier as Chief People Officer, effective April 25, 2022. This strategic role aims to enhance human resources practices and support employees globally, focusing on professional development and Diversity, Equity, Inclusion, and Belonging (DEIB) initiatives. Juvier, previously with Reuters, is expected to lead efforts in adapting to new work environments in a post-pandemic landscape. Scholastic continues to be a leading publisher of children's books and educational materials, serving a global market.
Scholastic Corporation (NASDAQ: SCHL) reported a 24% revenue increase for Q3 fiscal 2022, totaling $344.5 million, driven by strong book fair sales and educational solutions. Operating loss improved to $19.5 million, up from $24.2 million the prior year. The company generated $36.9 million in operating cash flow, marking a 125% increase. Expectations for Q4 remain positive, anticipating continued recovery with book fairs operating at 70% of pre-pandemic levels and strong demand for educational products.
Scholastic Corporation (NASDAQ: SCHL) has announced a quarterly cash dividend of $0.15 per share for the fourth quarter of fiscal 2022. This dividend is set to be paid on June 15, 2022, to shareholders of record as of the close of business on April 29, 2022. Scholastic continues to demonstrate its commitment to returning value to shareholders while focusing on its mission of promoting literacy and education for children worldwide.
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