The Street Preserves 5% Dividend Yield

Financial media company The Street (TSCM: 2.86 +1.06%) announced late yesterday that its Board of Directors has approved a quarterly cash dividend of $.025 per share.

 

The Street’s current dividend yield now stands at 5.1%.

 

The dividend will be payable on June 30, 2009 to shareholders of record as of June 15, 2009.

 

In early morning trading, TSCM’s stock is up 3% to $2.04. Since the beginning of 2009, The Street’s shares have fallen almost 30%. In 2008, the stock fell an amazing 82%. The steep fall in The Street’s stock price has produced an abnormally high dividend yield.

 

Investors are likely to wonder how safe The Street’s dividend really is right now. With the decline in advertising revenues, Wall Street is expecting the company to post losses in 2009 and 2010. While eliminating the quarterly dividend wouldn’t solve TSCM’s woes, it would produce over $3 million in annual savings.

 

Recommend This Article To Others:

• 
• 
• 
• 
• 
• 
• 
• 
• 
•