Scripps Networks Interactive Inc. said Wednesday that it will raise its quarterly dividend by 20%, to 30 cents a share from 25 cents a share. The new dividend will be payable March 10 to shareholders of record on Feb. 28. Based one the stock's Wednesday closing price of $77.18, the new annual dividend rate implies a dividend yield of 1.55%, compared with the aggregate S&P 500 dividend yield of 2.02%, according to FactSet. Shares of Scripps, which media portfolio includes HGTV, Food Network and Cooking Channel, were little changed in after-hours trade. The stock has rallied 9.3% over the past three months, while the S&P 500 has climbed 7.7%.
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