Wiley (NYSE: WLY and WLYB) has announced an increase in its quarterly cash dividend for the 31st consecutive year. The new quarterly dividend of $0.3525 per share on its Class A and Class B Common Stock, payable on July 25, 2024, to shareholders of record on July 9, 2024. This represents an increase from the prior year's dividend of $1.40 per share to $1.41 per share annually.
In its recent financial report for the fourth quarter and fiscal year ended April 30, 2024, Wiley reported that its FY24 Adjusted EBITDA and Adjusted EPS guidance exceeded, and the Adjusted Revenue was at the higher end of the range. The company completed a GenAI content rights project in Q4 FY24 with a large tech company and has another executed GenAI project with a second large tech company to be realized in FY25.
Moreover, Wiley has made progress in its Value Creation Plan with two of the three non-core divestitures closed and $90 million of the $130 million run-rate cost savings actioned. The company's FY25 growth outlook is driven by Research & Learning momentum and accelerated cost savings.
The company's financial results and announcements for Q4 2024, including the earnings presentation and call transcript, can be found at https://investors.wiley.com/financials/quarterly-results/default.aspx.
Wiley, known as one of the world’s largest publishers and a trusted leader in research and learning, has been delivering on its mission to unlock human potential for more than two centuries. As a result of these announcements, the company's shares have moved 0.1% on the market, and are now trading at a price of $40.04. Check out the company's full 8-K submission here.
