Warner Music Group Corp. has just announced its quarterly cash dividend, setting it at $0.18 per share on WMG's class A common stock and class B common stock. This dividend will be payable on September 4, 2024, to stockholders of record as of the close of business on August 27, 2024.
In the last reported period, Warner Music Group's revenue stood at $1.39 billion, representing a 22% increase year over year. The company's operating income was reported at $119 million, marking a 72% increase from the previous year.
Furthermore, the company's net income in the last reported period was $33 million, indicating a significant improvement from a net loss of $48 million in the same period last year. Additionally, Warner Music Group's digital revenue experienced substantial growth, reaching $792 million, a 28% increase year over year.
Moreover, the company's cash and cash equivalents amounted to $396 million in the last reported period, reflecting a 61% increase from the previous year. Warner Music Group's total debt was reported at $3.36 billion, representing a 5% decrease from the prior year.
These figures demonstrate Warner Music Group's strong financial performance and growth trajectory. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $28.2. For the full picture, make sure to review Warner Music's 8-K report.
