- 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.
The company's board will open talks with potential acquirers, setting the stage for a likely sale of the publisher of Fortune, People and Sports Illustrated.
Time shares continued their two-month surge on a report that Meredith remains interested in a potential merger with the publisher of Fortune, Sports Illustrated and People.
The venerable publisher is at yet another crossroads, and once again, it is turning to the lawyer-turned-banker for advice.
The publishing company has tapped Morgan Stanley and Bank of America to help field buyer interest, according to reports.