New Media Investment Group Inc (NYSE:NEWM) to Issue $0.38 Quarterly Dividend

New Media Investment Group Inc (NYSE:NEWM) declared a quarterly dividend on Monday, August 5th, NASDAQ reports. Stockholders of record on Tuesday, August 20th will be given a dividend of 0.38 per share on Wednesday, August 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 20.13%. The ex-dividend date of this dividend is Monday, August 19th.

New Media Investment Group has raised its dividend by an average of 4.9% annually over the last three years and has raised its dividend every year for the last 4 years. New Media Investment Group has a payout ratio of 211.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of NYSE NEWM traded down $0.50 during mid-day trading on Wednesday, reaching $7.55. The company had a trading volume of 1,100,707 shares, compared to its average volume of 781,691. The stock’s 50-day moving average price is $9.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.90 and a current ratio of 0.99. The firm has a market cap of $647.67 million, a PE ratio of 27.44 and a beta of 1.17. New Media Investment Group has a 52 week low of $8.00 and a 52 week high of $16.38.

Separately, Citigroup restated a “positive” rating and issued a $11.00 price target (down from $14.00) on shares of New Media Investment Group in a report on Wednesday.

New Media Investment Group Company Profile

New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 146 daily newspapers with total paid circulation of approximately 1.5 million; 323 weekly newspapers with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million; 132 shoppers with total circulation of approximately 3.1 million; and 581 locally-focused Websites, including Internet and mobile devices with approximately 364 million page views per month.

Read More: What are the advantages of the Stochastic Momentum Index?

Dividend History for New Media Investment Group (NYSE:NEWM)

Receive News & Ratings for New Media Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Media Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.