Torstar Corp slashes dividend for second time this year amid $24.3 million loss


Locutus
#1
looks good on them. they're just not relevant any more.

TORONTO ó Torstar Corp. reported a $24.3 million loss in the second quarter of 2016, down considerably from $53.5 million in the previous quarter, although still significantly more than the $1.1 million it lost in the second quarter of last year.

The publisher of the Toronto Star and other media outlets saw its segmented revenue drop 9.5 per cent to $196.5 million ó it was $216.9 million in the second quarter of 2015. Torstar said the decrease reflected declines of 16.9 per cent in print advertising revenues, a 7.7 per cent decline in distribution revenues and a 6.1 per cent decrease in subscriber revenue.

Torstarís board also announced it will reduce the companyís dividend for the second time in 2016.

Starting on September 30, the quarterly payment to shareholders will fall to 2.5 cents per share, or 10 cents per year. Torstarís quarterly dividend was previously 6.5 cents in June and March of this year, and was 13.12 cents per share before that.

Torstar Corp slashes dividend for second time this year amid $24.3 million loss | Financial Post
 
Walter
#2
Torstar opinion page never was relevant to me. Lotsa schaden fruede going on with me this morning.
 
mentalfloss
#3
Rib Ford is dead.