TEGNA Announces Quarterly Dividend

Rhea-AI Summary

TEGNA Inc. (TGNA) announces a regular quarterly dividend of 11.375 cents per share, payable on April 1, 2024, to stockholders of record as of March 8, 2024.

Financial Analyst

The declaration of a regular quarterly dividend by TEGNA Inc. is a sign of the company's financial health and commitment to returning value to shareholders. Dividends are often seen as a reflection of a company's confidence in its current profitability and future prospects. In this case, a dividend of 11.375 cents per share represents a tangible return on investment for stockholders.

From a financial analyst's perspective, the size and sustainability of the dividend are key indicators of the company's financial stability. It is important to assess the dividend payout ratio, which is the proportion of earnings paid out as dividends to shareholders. A payout ratio that is too high may not be sustainable in the long run, while a ratio that is too low may indicate that the company is retaining more earnings for growth or debt repayment.

Investors should also consider the dividend yield, which is the dividend per share divided by the stock price. This metric helps compare the attractiveness of TEGNA's dividends relative to other investment opportunities. A stable or growing dividend yield can make the stock more appealing to income-focused investors.

Market Research Analyst

When a company like TEGNA Inc. announces its dividend, market research analysts look beyond the immediate financial implications to understand the broader market impact. For instance, the announcement may influence investor sentiment, particularly among those who prioritize steady income streams. This could potentially increase demand for TEGNA's stock, especially if the dividend is competitive compared to industry peers.

Moreover, analysts would evaluate the company's dividend history for consistency and growth. A consistent track record of paying dividends can be indicative of a company's reliability and management's commitment to shareholders. Any changes in the dividend policy or amounts can signal shifts in corporate strategy or financial priorities, which are critical for investors to monitor.

In the context of the broader industry, the dividend announcement could also be a benchmark for competitors. If TEGNA's dividend is higher than the industry average, it could put pressure on other companies to evaluate and potentially increase their own dividend payouts to maintain investor interest.

TYSONS, Va.--(BUSINESS WIRE)-- TEGNA Inc.’s (NYSE: TGNA) Board of Directors declared a regular quarterly dividend of 11.375 cents per share, payable on April 1, 2024, to stockholders of record as of the close of business on March 8, 2024.

About TEGNA

TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA’s OTT advertising service. For more information, visit www.TEGNA.com.

Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this communication, the words “believes,” “estimates,” “plans,” “expects,” “should,” “could,” “outlook,” and “anticipates” and similar expressions as they relate to the Company or its financial results are intended to identify forward-looking statements. Forward-looking statements in this communication may include, without limitation, statements regarding anticipated growth rates and the Company's plans, objectives and expectations. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements, many of which are outside the Company’s control. These risks, uncertainties and other factors include, but are not limited to, risks and uncertainties related to: changes in the market price of the Company's shares, general market conditions, constraints, volatility, or disruptions in the capital markets; the possibility that the Company's share repurchases, including through ASR programs, may not enhance long-term stockholder value; the possibility that share repurchases could increase the volatility of the price of the Company's common stock; legal proceedings, judgments or settlements; the response of customers, suppliers and business partners to the Company's plans, operations and business as a stand-alone company; the Company's ability to re-price or renew subscribers; potential regulatory actions; changes in consumer behaviors and impacts on and modifications to TEGNA's operations and business relating thereto; and economic, competitive, governmental, technological and other factors and risks that may affect the Company's operations or financial results, which are discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements in this communication should be evaluated in light of these important risk factors. The Company is not responsible for updating the information contained in this communication beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240221784169/en/

For media inquiries, contact:

Anne Bentley

Vice President, Chief Communications Officer

703-873-6366

abentley@TEGNA.com

For investor inquiries, contact:

Julie Heskett

Senior Vice President, Chief Financial Officer

703-873-6747

investorrelations@TEGNA.com

Source: TEGNA Inc.

What dividend has TEGNA Inc. (TGNA) declared per share?

TEGNA Inc. (TGNA) declared a regular quarterly dividend of 11.375 cents per share.

When is the dividend payable to TEGNA Inc. (TGNA) stockholders?

The dividend is payable on April 1, 2024, to stockholders of record as of March 8, 2024.

What is the ticker symbol for TEGNA Inc.?

The ticker symbol for TEGNA Inc. is TGNA.