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Stock impact report

Scholastic Unlocks Significant Value Through Sale-Leasebacks of Owned Real Estate Assets [Yahoo! Finance]

Scholastic Corporation (SCHL) 
Last scholastic corporation earnings: 3/19 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.scholastic.com
Company Research Source: Yahoo! Finance
/PRNewswire/ -- Scholastic Corporation (NASDAQ: SCHL), the global children's publishing, education and media company, today announced that it has entered into sale-leaseback transactions for its headquarters location in New York City ("555-557 Broadway") and its primary distribution facility in Jefferson City, Missouri ("Jefferson City"), which together are expected to generate estimated net proceeds of $401 million. The sale of these real estate assets aligns with the Company's long-term plan to monetize its significant non-operating assets to improve the efficiency of its balance sheet and create shareholder value. Proceeds are expected to be deployed in accordance with the Company's capital allocation priorities, including debt reduction and share repurchases. Show less Read more
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