HOBOKEN, N.J. - Wiley, a global research and learning company, has declared a quarterly cash dividend of $0.35 per share for both Class A and Class B Common Stock, as announced by the company's Board of Directors. The dividend is scheduled to be paid on April 25, 2024, to shareholders who are on record as of April 9, 2024. This declaration follows Wiley's history of consistent dividend growth, marking the 30th consecutive year of dividend increases as of June 2023.
The company, known for its extensive publishing and knowledge services, has been a significant player in the academic and educational sectors for over two centuries. Wiley's commitment to supporting researchers, learners, and professionals worldwide has established it as a key resource in advancing knowledge and addressing critical global challenges.
The quarterly dividend equates to an annual dividend rate of $1.40 per share, reflecting Wiley's ongoing commitment to providing value to its shareholders. This consistent increase in dividends underscores the company's financial stability and its board's confidence in the firm's ability to generate strong cash flows.
Investors looking for further details on Wiley's financial performance can refer to the company's third-quarter earnings for the fiscal year 2024 and the full-year outlook provided in the Q3 2024 Earnings Release. Additional updates and forward-looking statements are available in the 2024 Investor Update.
As a publisher and knowledge provider, Wiley continues to focus on its mission of unlocking human potential by serving various stakeholders, including researchers, innovators, and leaders in multiple fields. This dividend announcement is based on a press release statement from Wiley.
InvestingPro Insights
Wiley (WLY), with its recent announcement of a quarterly cash dividend, has yet again demonstrated its commitment to providing shareholder value. The company's resilience is also reflected in its market capitalization, which stands at a robust $2.03 billion. Wiley's ability to maintain and grow dividends over an impressive span of 30 years is a testament to its financial discipline and strategic planning.
InvestingPro data reveals that Wiley has maintained a high shareholder yield, a key indicator for investors seeking income-generating stocks. The company's dividend yield is currently 3.79%, which is an attractive figure for income-focused portfolios. Moreover, despite analysts anticipating a sales decline in the current year, the company's gross profit margin remains strong at 70.24%, indicating efficient cost management and a solid business model.
While the P/E ratio stands at -13.23, suggesting the market has had concerns about profitability, InvestingPro Tips highlight that analysts predict the company will be profitable this year. This is a significant turnaround signal for investors considering the company's stock. Additionally, Wiley has a notable history of raising its dividend, doing so for the last 29 consecutive years, which may provide reassurance to investors looking for stable dividend payers.
For investors interested in a deeper analysis, there are additional InvestingPro Tips available on Wiley, including insights on expected net income growth and the company's short-term obligations in relation to its liquid assets. To discover more about these financial factors and how they could influence investment decisions, visit the Wiley page on InvestingPro at https://www.investing.com/pro/WLY. Plus, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and access the full list of 9 InvestingPro Tips that can further guide your investment strategy.
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