SCHOLASTIC CORPORATION ANNOUNCES FIRST QUARTER DIVIDEND

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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.

Positive

• 33% increase in quarterly dividend from $0.15 to $0.20 per share.
• New annual dividend rate of $0.80 per share indicates financial strength and confidence.

Negative

• None.

Board Approves 33% Increase in Dividend Rate

NEW YORK, July 20, 2022 /PRNewswire/ -- Scholastic Corporation (NASDAQ: SCHL) is pleased to announce that its Board of Directors today approved a 33% increase in its regular quarterly dividend to $0.20 per share from $0.15 per share on the Company's Class A and Common Stock, commencing with the dividend declared for the first quarter of fiscal 2023. The dividend is payable on September 15, 2022 to all shareholders of record as of the close of business on August 31, 2022. The indicated annual dividend rate will now be $0.80 per share.

About Scholastic

For more than 100 years, Scholastic Corporation (NASDAQ: SCHL) has been encouraging the personal and intellectual growth of all children, beginning with literacy. Having earned a reputation as a trusted partner to educators and families, Scholastic is the world's largest publisher and distributor of children's books, a leading provider of literacy curriculum, professional services, and classroom magazines, and a producer of educational and entertaining children's media. The Company creates and distributes bestselling books and e-books, print and technology-based learning programs for pre-K to grade 12, and other products and services that support children's learning and literacy, both in school and at home. With 15 international operations and exports to 165 countries, Scholastic makes quality, affordable books available to all children around the world through school-based book clubs and book fairs, classroom libraries, school and public libraries, retail, and online. Learn more at www.scholastic.com.

SCHL: Financial

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SOURCE Scholastic Corporation

FAQ

What is the new dividend amount for SCHL?

The new dividend amount for SCHL is $0.20 per share.

When is the SCHL dividend payable?

The SCHL dividend is payable on September 15, 2022.

What is the record date for SCHL's dividend?

The record date for SCHL's dividend is August 31, 2022.

What is the annual dividend rate for SCHL after the increase?

The annual dividend rate for SCHL is now $0.80 per share.