- Payment of a regular quarterly dividend of $0.4325 per share, or $1.73 on an annual basis. The new dividend will be payable on June 13, 2014, to shareholders of record on May 30, 2014.
- Authorization to repurchase $100 million of Meredith stock.
Shares in the magazine publisher fall after it cuts its dividend and pledges to sell certain assets to fund new digital ventures.
The magazine publisher chooses to pursue its own turnaround strategy and walks away from a process that had been dominated by rumors of a Meredith tie-up.
Time Inc. wants to sells itself for $20 per share.