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DES MOINES, Iowa, Jan. 29, 2018 /PRNewswire/ -- The Meredith Corporation (NYSE: MDP; www.meredith.com) Board of Directors on Saturday, January 27, 2018, approved a 4.8 percent increase of its regular stock dividend to $2.18 per share on an annualized basis, an increase of $0.10 per share. The next quarterly dividend will be $0.545 and is payable on March 15, 2018, to shareholders of record on February 28, 2018. 

Meredith has paid dividends for 71 consecutive years, increasing them for 25 years straight. The new and higher annual dividend yields 3.3 percent, based on Friday's closing price of $66.15. Meredith has delivered an average annual return of 22 percent since the launch of its Total Shareholder Return (TSR) strategy more than five years ago.

ABOUT MEREDITH CORPORATION

Meredith Corporation has been committed to service journalism for 115 years.  Today, Meredith uses multiple distribution platforms — including broadcast television, print, digital, mobile and video — to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.

Meredith's Local Media Group includes 17 television stations reaching 11 percent of U.S. households.  Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 — including Atlanta, Phoenix, St. Louis and Portland — and 13 in Top 50 markets.  Meredith's stations produce 700 hours of local news and entertainment content each week, and operate leading local digital destinations.

Meredith's National Media Group reaches 110 million unduplicated women every month, including more than 70 percent of U.S. Millennial women.  Meredith is the leader in creating and distributing content across platforms in key consumer interest areas such as food, home, parenting and lifestyle through well-known brands such as Better Homes & Gardens, Allrecipes, Parents and Shape.  Meredith also features robust brand licensing activities, including more than 3,000 SKUs of branded products at 5,000 Walmart stores across the U.S. and at walmart.com. Meredith Xcelerated Marketing is an award-winning, strategic and creative agency that provides fully integrated marketing solutions.

SOURCE Meredith Corporation