Tribune Publishing Announces $1.50 Per Share Special Cash Dividend
Tribune Publishing Co (TPCO)
Last tribune publishing co earnings: 11/7 04:10 pm
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Source: GlobeNewswire
CHICAGO, May 30, 2019 (GLOBE NEWSWIRE) -- Tribune Publishing Company (NASDAQ: TPCO) today announced that its Board of Directors has declared a special cash dividend of $1.50 per share, or approximately $56 million in the aggregate. The dividend will be payable on July 2, 2019 to Tribune Publishing common stock shareholders of record as of the close of business on June 12, 2019. The special dividend will be funded through existing cash on hand. David Dreier, Tribune Publishing Chairman commented, “Over the past year, we have taken advantage of opportunities to sell assets at favorable prices. This has allowed us to eliminate debt and reduce pension liabilities. The payment of a special cash dividend underscores the Company’s financial strength and commitment to returning capital to shareholders.” Timothy P. Knight, Tribune Publishing Chief Executive Officer and President added, “Today’s announcement also reflects our confidence in future performance as we continue investing in our
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