Warner Music raises dividend by 25%

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Warner Music raises dividend by 25%

Dow Jones2021-08-13

MW Warner Music raises dividend by 25%

Warner Music Group Corp. $(WMG)$ said Friday it will pay a quarterly dividend of 15 cents a share, which is up 25% from the previous dividend of 12 cents a share. The new dividend will be payable Sept. 1 to shareholders of record on Aug. 25. Based on Thursday's stock closing price of $34.90, the music publisher and recorder's new annual dividend rate implies a dividend yield of 1.72%, which compares with the implied yield for the S&P 500 of 1.34%, according to FactSet. Warner Music's stock, which was still inactive in premarket trading, has lost 8.1% year to date, while the S&P 500 has run up 18.8%.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

August 13, 2021 07:37 ET (11:37 GMT)

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StellaSss
·2021-08-13
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