Scholastic Corporation (SCHL): An Overlooked Dividend Capture Opportunity in October

Scholastic Corporation (NASDAQ:SCHL) is included among the Best High Yield Stocks to Buy in October.

Scholastic Corporation (NASDAQ:SCHL) is the leading publisher and distributor of children’s books, magazines, and other educational materials. With so much of its business tied up with public schools, it’s dependent on local and municipal budgets. It said “funding uncertainties” in these institutions had weighed on its performance in the quarter ended July 31, with the education solutions unit hit hardest. That division’s revenue dropped 28% to slightly more than $40 million.

In spite of this uncertainty, Scholastic Corporation (NASDAQ:SCHL) maintained its FY guidance. The adjusted EBITDA is anticipated to be within a range of $160 million to $170 million, and revenue is expected to increase by 2% to 4% over the previous fiscal year.

Scholastic Corporation (NASDAQ:SCHL) announced a quarterly dividend of $0.20 per share on September 17th. It has been paying dividends for a long time, and its dividend record is impressive. The stock has a dividend yield of 2.9% as of September 27. SCHL will trade ex-dividend on October 31, 2023. If you own it on that date, you will be eligible to receive the dividend. This makes it one of the top plays to capture dividends.

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Disclosure: None.