Welcome to our dedicated page for Scholastic news (Ticker: SCHL), a resource for investors and traders seeking the latest updates and insights on Scholastic stock.
Scholastic Corporation (SCHL) delivers trusted educational content and children's media through its global publishing networks. This page provides investors and stakeholders with a centralized resource for official press releases, financial updates, and strategic developments from the leader in children's literacy solutions.
Discover timely updates across Scholastic's core operations: book publishing innovations, education technology initiatives, and multimedia expansions of beloved literary franchises. Our curated news collection enables informed analysis of SCHL's market position in educational publishing and family entertainment.
Key content categories include earnings announcements, leadership updates, product launches, and partnerships advancing childhood literacy. All materials are sourced directly from Scholastic's corporate communications to ensure accuracy and compliance.
Bookmark this page for streamlined access to SCHL's latest developments. Monitor how the company's 100-year legacy in educational publishing evolves through digital innovation and global community engagement.
Scholastic (NASDAQ: SCHL) announced plans to integrate its Book Fairs and Book Clubs into a single school reading events division by June 2023, aiming to enhance operational efficiency and expand its impact on literacy. Sasha Quinton will lead the new division, leveraging her successful leadership of Book Fairs since 2020. Judy Newman has been appointed as the first Chief Impact Officer, focusing on partnerships to increase literacy access. The transition is underway, with results to be discussed during the company's year-end report.
Scholastic Corporation (SCHL) reported its fiscal Q3 results for 2023, revealing a revenue decrease of 6% to $324.9 million, mainly due to softening retail demand in the children's book market. Despite these challenges, the Children's Books segment saw growth attributed to strong Book Fairs performance. The company returned over $53 million to shareholders through dividends and share repurchases, highlighting its commitment to shareholder value. However, the outlook has been adjusted, forecasting a reduced Adjusted EBITDA of $175-185 million and a revenue growth of approximately 4% for the fiscal year, down from previous estimates of 8-10%.
On March 22, 2023, Scholastic Corporation (NASDAQ: SCHL) declared a quarterly cash dividend of $0.20 per share on its Class A and Common Stock for Q4 of fiscal 2023. This dividend is scheduled to be paid on June 15, 2023, to shareholders on record as of the close of business on April 28, 2023. This announcement reflects Scholastic's commitment to returning value to its shareholders, consistent with its long-standing business practices.
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