The E.W. Scripps Co.’s board of directors authorized a 2-for-1 stock split Thursday.
The transaction will take place in the form of a 100% stock dividend to shareholders of record at the close of business Aug. 31. Scripps shareholders will receive one additional share for each share held on that date.
The company’s board also declared a quarterly cash dividend of 20 cents per share (pre-split) to shareholders of record at the close of business Aug. 31.
The additional shares and cash dividend are payable Sept. 10.