Scholastic Co. (SCHL) To Go Ex-Dividend on April 29th

Scholastic Co. (NASDAQ:SCHL) announced a quarterly dividend on Wednesday, March 20th, Zacks reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.20 per share on Monday, June 17th. This represents a $0.80 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, April 29th.

Scholastic has raised its dividend by an average of 10.1% annually over the last three years. Scholastic has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scholastic to earn $3.01 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 26.6%.

Scholastic Stock Up 0.9 %

Shares of NASDAQ:SCHL opened at $36.42 on Friday. Scholastic has a 52-week low of $32.50 and a 52-week high of $45.98. The company has a 50 day moving average of $37.39 and a two-hundred day moving average of $38.01. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 25.12 and a beta of 1.05.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). Scholastic had a net margin of 3.16% and a return on equity of 5.57%. The company had revenue of $323.70 million during the quarter, compared to the consensus estimate of $329.21 million. During the same quarter last year, the company earned ($0.57) earnings per share. On average, equities analysts anticipate that Scholastic will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Scholastic from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd.

Insider Transactions at Scholastic

In other news, EVP Iole Lucchese sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $33.51, for a total transaction of $13,404,000.00. Following the completion of the sale, the executive vice president now owns 579,247 shares of the company’s stock, valued at $19,410,566.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.62% of the company’s stock.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education Solutions, and International. The Children's Book Publishing and Distribution segment engages in publication and distribution of children's books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.