Wiley Increases Quarterly Dividend for the 31st Consecutive Year

Rhea-AI Summary

Wiley (NYSE: WLY, WLYB) has declared a quarterly cash dividend of $0.3525 per share, payable on July 25, 2024, to shareholders of record on July 9, 2024. This marks the 31st consecutive annual dividend increase, now totaling $1.41 per share annually, up from $1.40 in Fiscal 2024.

The company exceeded its Fiscal 2024 earnings guidance, with Adjusted EBITDA and Adjusted EPS surpassing expectations and Adjusted Revenue at the higher end of the range. Wiley completed a GenAI content rights project with a major tech company in Q4 Fiscal 2024 and another project with a second large tech company for Fiscal 2025. The Value Creation Plan saw progress with two non-core divestitures and $90 million of the targeted $130 million run-rate savings actioned.

For Fiscal 2025, Wiley aims to sustain growth driven by momentum in Research and Learning and accelerated cost savings.

Positive

• Quarterly dividend increased to $0.3525 per share, marking the 31st consecutive annual increase.
• Fiscal 2024 Adjusted EBITDA and Adjusted EPS exceeded guidance.
• Adjusted Revenue was at the higher end of the range.
• Completion of GenAI content rights project with a large tech company in Q4 Fiscal 2024.
• Execution of another GenAI project with a second large tech company to be realized in Fiscal 2025.
• Progress in the Value Creation Plan with two of three non-core divestitures closed.
• $90 million of the $130 million run-rate savings actioned.

Negative

• None.

Company recently exceeded its Fiscal 2024 earnings guidance and sees strong core and GenAI momentum

HOBOKEN, N.J.--(BUSINESS WIRE)-- Wiley (NYSE: WLY and WLYB), a global leader in research and learning, today announced that its Board of Directors has declared a quarterly cash dividend of $0.3525 per share on its Class A and Class B Common Stock, payable on July 25, 2024, to shareholders of record on July 9, 2024. The quarterly dividend is equivalent to an annual dividend of $1.41 per share, an increase from $1.40 per share in Fiscal 2024. It is Wiley’s 31^st consecutive annual increase.

Wiley recently reported results for its fourth quarter and fiscal year ended April 30, 2024. Highlights included:

• Fiscal 2024 Adjusted EBITDA and Adjusted EPS guidance exceeded; Adjusted Revenue in higher end of range
• GenAI content rights project completed in Q4 Fiscal 2024 with large tech company; another executed GenAI project with second large tech company to be realized in Fiscal 2025
• Value Creation Plan advanced with 2 of 3 non-core divestitures closed and $90 million of $130 million run-rate savings actioned
• Fiscal 2025 growth outlook driven by Research and Learning momentum and accelerated cost savings

Please see the Q4 2024 earnings release, earnings presentation, and earnings call transcript at https://investors.wiley.com/financials/quarterly-results/default.aspx.

About Wiley

Wiley is one of the world’s largest publishers and a trusted leader in research and learning. Our industry-leading content, services, platforms, and knowledge networks are tailored to meet the evolving needs of our customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. We enable knowledge-seekers to transform today’s biggest obstacles into tomorrow’s brightest opportunities. For more than two centuries, Wiley has been delivering on its timeless mission to unlock human potential. Visit us at Wiley.com. Follow us on Facebook, Twitter, LinkedIn and Instagram.

CATEGORY: EARNINGS RELEASES

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627325013/en/

Brian Campbell

201.748.6874

brian.campbell@wiley.com

Source: John Wiley and Sons

FAQ

What is the new quarterly dividend announced by Wiley?

Wiley announced a new quarterly dividend of $0.3525 per share.

When is the payment date for Wiley's latest dividend?

The dividend will be payable on July 25, 2024.

On which date must investors hold Wiley shares to receive the dividend?

Investors must hold Wiley shares by July 9, 2024, to receive the dividend.

How much has Wiley's annual dividend increased?

Wiley's annual dividend increased from $1.40 per share to $1.41 per share.

Did Wiley exceed its Fiscal 2024 earnings guidance?

Yes, Wiley exceeded its Fiscal 2024 Adjusted EBITDA and Adjusted EPS guidance.

What was the status of Wiley's Adjusted Revenue for Fiscal 2024?

Wiley's Adjusted Revenue was at the higher end of the range for Fiscal 2024.

What GenAI projects did Wiley complete in Fiscal 2024?

Wiley completed a GenAI content rights project with a large tech company in Q4 Fiscal 2024.

What are Wiley's expectations for Fiscal 2025?

Wiley expects growth driven by Research and Learning momentum and accelerated cost savings in Fiscal 2025.