Scholastic (SCHL) Declares $0.20 Dividend
Scholastic said on March 22, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on June 15, 2023.
At the current share price of $41.32 / share, the stock's dividend yield is 1.94%. Looking back five years and taking a sample every week, the average dividend yield has been 1.79%, the lowest has been 1.26%, and the highest has been 2.99%. The standard deviation of yields is 0.38 (n=237).
The current dividend yield is 0.37 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 481 funds or institutions reporting positions in Scholastic. This is an increase of 2 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to SCHL is 0.13%, an increase of 1.52%. Total shares owned by institutions decreased in the last three months by 3.27% to 31,243K shares. The put/call ratio of SCHL is 0.44, indicating a bullish outlook.
What are Large Shareholders Doing?
Price T Rowe Associates holds 4,271K shares representing 12.56% ownership of the company. In it's prior filing, the firm reported owning 4,244K shares, representing an increase of 0.64%. The firm increased its portfolio allocation in SCHL by 26.77% over the last quarter.
TRMCX - T. Rowe Price Mid-Cap Value Fund holds 2,514K shares representing 7.39% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,203K shares representing 6.48% ownership of the company. In it's prior filing, the firm reported owning 2,212K shares, representing a decrease of 0.41%. The firm increased its portfolio allocation in SCHL by 16.23% over the last quarter.
Neuberger Berman Group holds 1,043K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 1,023K shares, representing an increase of 1.95%. The firm decreased its portfolio allocation in SCHL by 99.94% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 948K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 963K shares, representing a decrease of 1.59%. The firm decreased its portfolio allocation in SCHL by 20.58% over the last quarter.
Scholastic Background Information
(This description is provided by the company.)
For 100 years, Scholastic Corporation 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.
This story originally appeared on Fintel.