NY Times Co. to Raise Dividend

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(AP) The New York Times Co. said Tuesday it will raise its quarterly dividend by a penny to 14.5 cents.

The New York-based media company said the dividend on its Class A and Class B common stock will be payable on June 19 to shareholders of record on June 2.

“We are pleased to announce our ninth dividend increase in the past six and a half years, which demonstrates the board’s confidence in the company’s long-term growth strategy and financial strength,” said Chairman Arthur Sulzberger Jr.

This dividend is the 138th consecutive quarterly dividend paid on the company’s common stock since it went public in 1969, the Times said.

The company includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated TV stations, two New York City radio stations, and more than 40 Web sites.

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