By this time next year, the company formerly known as Gannett will likely be gone, joining Tribune Media and the legions of other companies in the annals of broadcast media history and are today a part of Nexstar Media Group.
Until that time, however, TEGNA shareholders will still be reaping the benefits of ownership by getting a little cash bonus.
TEGNA Inc.’s Board of Directors signed off on a regular quarterly dividend of $0.125 per share, payable on October 1 to stockholders of record as of the close of business on September 5.
The dividend comes as “TGNA,” which trades on the NYSE, was trading at $21.15 as the 10am Eastern hour began. That’s some of the highest valuations seen for TEGNA since February 2023, and marks a nearly 49% improvement since the end of August 2024, when shares were trading in the low-$14 range.
For those with accounts involving BlackRock, that’s good news, too, as BlackRock holds 16% equity interest in TEGNA, making it the top institutional investor in the company as of June 30. The second-largest institutional investor with TEGNA holdings is The Vanguard Group, with some 15.23% outstanding shares held.
