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The New York Times raises dividend as digital subscriptions surge, but forecasts slower growth ahead.
The New York Times Company increased its quarterly dividend to $0.18 per share, up from $0.13, with a payout ratio of 22.6%.
For Q4 2024, total revenues rose 7.5% to $726.6 million, driven by a 16% increase in digital-only subscription revenues to $334.9 million.
The company now has 11.43 million subscribers, including 10.82 million digital-only, up 350,000 from the previous quarter.
However, first-quarter subscription revenue growth is expected to be below Wall Street estimates, with growth forecasted between 7% and 10%.
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The New York Times aumenta los dividendos a medida que aumentan las suscripciones digitales, pero pronostica un crecimiento más lento en el futuro.