News Corporation Announces Dividend Distribution for Class B Common Stock
NEWS CORPORATION.. (NWS) Share Update August 2024 Thursday 8th
News Corporation Announces Dividend Distribution for Class B Common Stock
News Corporation (ASX: NWS) has announced a new dividend distribution for its Class B voting common stock. The dividend amount is set at USD 0.10 per share, with key dates for investors to note.
Instant Summary:
- Dividend amount: USD 0.10 per share
- Ex Date: October 9, 2024
- Record Date: November 9, 2024
- Payment Date: October 9, 2024
- Dividend paid in USD for U.S. holders and AUD for Australian holders
Dividend Announcement Details
News Corporation has declared a dividend of USD 0.10 per share for its Class B voting common stock. This dividend relates to the financial period ending June 30, 2024. Shareholders should take note of several important dates associated with this dividend distribution.
The Ex Date, which is the date on which the stock starts trading without the dividend, is set for October 9, 2024. The Record Date, which determines the shareholders eligible to receive the dividend, is November 9, 2024. Finally, the Payment Date, when the dividend will be distributed, is October 9, 2024.
Currency and Tax Information
Dividends will be paid in U.S. dollars for holders of News Corporation Class B common stock. For holders of CDIs representing News Corporation Class B common stock on the ASX, the dividend will be paid in Australian dollars. The exact AUD equivalent will be announced on September 27, 2024.
The dividend is unfranked, meaning it does not carry any tax credits. A withholding tax rate of 30% applies to the dividend distribution.
Additional Information
The dividend distribution does not require any special approvals such as security holder approval, court approval, or any other external conditions. This straightforward process ensures that shareholders will receive their dividends on the specified payment date without any delays.
This dividend announcement is likely to have a positive impact on News Corporation's stock price. Dividends are generally seen as a sign of a company's financial health and its commitment to returning value to shareholders. The consistent dividend payout can attract income-focused investors, potentially driving up demand for the stock.
Investor Reaction:
Analysts are expected to react positively to this announcement. The dividend distribution reflects News Corporation's stable financial performance and its ability to generate consistent cash flow. Investors may view this as a sign of confidence in the company's future prospects, which could lead to an uptick in the stock price.
Conclusion:
Investors should mark their calendars for the key dates associated with this dividend distribution. The announcement underscores News Corporation's commitment to rewarding its shareholders. Staying informed about such updates can help investors make strategic decisions about their portfolios.