It was reported earlier today that the Bancroft family received an extra windfall before approving the sale of Dow Jones.
From today’s New York Post (with nice brief disclosure)
“Just prior to the Bancroft family’s approval of selling Dow Jones to News Corp., the family doubled the dividend it takes from the company, filings said. Instead of its usual 25-cent per share quarterly dividend, the board voted to boost it to 50 cents, doubling its latest quarterly cash div idend to $10.3 million. News Corp. owns The Post.”
A Dow Jones spokesperson has just sent the following statement to The Observer:
“Dow Jones’ dividend rate remains unchanged at 25 cents a share per quarter ($1.00 a share annually) for all common and class B shares. In accordance with past practice, we declared the regular dividends for both the second and the third quarters during the second quarter, but only the dividend for the second quarter was paid in the second quarter (see Note 8 to our recently filed 10Q). To reiterate, the dividend hasn’t changed.”