New York Times Co. Revives Dividend

Those worried about the financial status of the multiple generations of the Sulzberger family should fret no more. The New York Times Co. says it will start paying a dividend of 4 cents per share on October 24. Back in 2009, the company had eliminated the dividend in the wake of a sharp decline in advertising revenue. While the last few years haven't been kind to the newspaper business, the Times is in much better shape. The parent company has raised cash by selling off properties like the Boston Globe and About.com, and the paywall and circulation rate increases have solidified the paper's operations. The Ochs-Sulzberger family, which controls the company, historically gleaned up to $20 million on corporate dividends. Given a 13 percent stake in the company, the 4 cents a share dividend would pay the family $3.1 million annually.