New York Times Plans $350 Mln Buyback, Dividend

(RTTNews) - The New York Times Co. (NYT) Wednesday issued first-quarter total advertising revenues view, expecting a decrease in low-single-digits to increase in low-single-digits.

Further, the Board of Directors approved a $350.0 million Class A share repurchase program in addition to the amount remaining under the 2023 authorization.

The Board also declared a $0.18 dividend per share on the Company's Class A and Class B common stock, an increase of $0.05 from the previous quarter.

The dividend is payable on April 17, to shareholders of record as of the close of business on April 1.

In pre-market activity on the NYSE, The New York Times shares were trading at $57.19, up 2.33 percent.