Fri Sep 20 13:07:31 UTC 2024: ## Scholastic Announces Quarterly Dividend, Insider Buying Fuels Optimism

**New York, NY – September 20th, 2024** – Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly dividend of $0.20 per share, payable on December 16th to shareholders of record as of October 31st. This represents an annualized dividend of $0.80, yielding 2.50%.

The company’s dividend has been steadily increasing, averaging a 10.1% annual growth over the past three years. Analysts expect Scholastic to earn $3.24 per share next year, suggesting the company’s dividend remains sustainable with a projected payout ratio of 24.7%.

Adding to the positive sentiment, recent insider purchases are signaling confidence in Scholastic’s future. EVP Iole Lucchese acquired 1,654 shares on July 23rd, bringing her total holdings to 74,264 shares. CEO Warwick Peter also bought 1,674 shares on the same day, increasing his stake to 104,349 shares. This insider buying activity, combined with the consistent dividend growth, suggests optimism from those closest to the company.

Further bolstering investor confidence, StockNews.com recently upgraded Scholastic from a “hold” rating to a “buy” rating, citing the company’s strong performance and potential for growth.

Scholastic, a global publisher and distributor of children’s books, operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The company remains focused on delivering engaging and educational content for young readers through its diverse offerings, including print, digital, and audio books, school reading events, and book fairs.

**Scholastic shares opened at $32.01 on Friday, with a 52-week low of $28.47 and a 52-week high of $41.79. The company has a market cap of $903.96 million, a PE ratio of 22.08, and a beta of 1.03.**

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