Scripps declares third-quarter 2020 dividend

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) has announced a cash dividend for Q3 2020, set at 5 cents per share. Shareholders on record by Sept. 15, 2020, will receive this dividend, payable on Sept. 25, 2020. The payment will come out of the company’s surplus funds. Operating as the fourth-largest independent TV station owner in the U.S., Scripps serves audiences through multiple platforms including Newsy and various broadcast networks.

Positive

• Dividend of 5 cents per share demonstrates commitment to returning value to shareholders.
• Scheduled payment date of Sept. 25, 2020, provides clear expectation for investors.

Negative

• The dividend amount may be perceived as low given the current market conditions.
• Dependence on surplus funding for dividend raises concerns about long-term sustainability.

CINCINNATI, Aug. 7, 2020 /PRNewswire/ -- The board of directors of The E.W. Scripps Company (NASDAQ: SSP) has declared a cash dividend for the third quarter of 2020.

Scripps shareholders of record as of Sept. 15, 2020, will receive 5 cents per share, payable on Sept. 25, 2020. The dividend will be paid out of the company's surplus.

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) advances understanding of the world through journalism. As the nation's fourth-largest independent TV station owner, Scripps operates 60 television stations in 42 markets. Scripps empowers the next generation of news consumers with its multiplatform news network Newsy and reaches growing audiences through broadcast networks including Bounce and Court TV. Shaping the future of storytelling through digital audio, Scripps owns top podcast company Stitcher and Triton, the global leader in technology and measurement services. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."

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SOURCE The E.W. Scripps Company

FAQ

What is the dividend amount declared by SSP for Q3 2020?

SSP declared a dividend of 5 cents per share for Q3 2020.

When is the SSP dividend payment date?

The SSP dividend will be payable on Sept. 25, 2020.

Who is eligible for the SSP dividend payment?

Shareholders on record as of Sept. 15, 2020, are eligible for the dividend.

Is the SSP dividend sustainable?

Concerns exist regarding the sustainability of the SSP dividend as it is paid from surplus funds.