DallasNews approves special dividend, shares jump

Dallasnews

22/08/2022 22:07

** Shares in DallasNews  DALN.O , the corporation behind
the Dallas Morning News, rise 9.3% to $7.38 in extended trading
    ** Co says its board has approved a special dividend of
$1.50 per share payable on Sept. 30 to stockholders on record at
the close of business on Sept. 9  urn:newsml:reuters.com:*:nGNXJcJXC
    ** The special dividend is the fifth in the past 10 years,
DALN says
    ** Co also says cash on the balance sheet as of Sept. 30 is
projected to be around $33 million following payment of the
special dividend
    ** DALN board also approves a voluntary contribution of $5
million to pension plans
    ** Through last close, shares had declined 6% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))