10.30.2019 08:34 AM

Toronto Star suspends paying a dividend – of two cents

They are in deep, deep trouble.  Very sad to see.

Torstar Corp. suspended its quarterly dividend as it reported a $40.9-million loss attributable to shareholders in its latest quarter.

The publisher of the Toronto Star newspaper says it suspended the regular payment to shareholders of 2.5 cents per share as part of its plan to preserve its cash and strengthen its financial position.

The board of directors plans to review the dividend policy again in the fourth quarter of 2020, the company says.

The decision came as Torstar reported a loss of 50 cents per share for the quarter ended Sept. 30 compared with a loss attributable to shareholders of $18.8 million or 23 cents per share in the same quarter last year. Operating revenue fell to $111.8 million compared with $126.4 million.

 

9 Comments

  1. HarryR says:

    So, the oiled hinge still squeaks. More oil required – apply Liberally!

  2. DougF. says:

    That is truly excellent news. Going— Going—- GONE.
    Only a matter of time now. Only a matter of time.
    One propaganda machine down. Many more to follow.

  3. Peter says:

    Meanwhile, the National Post is one of the few papers that is growing. It may reflect a conservative perspective , but it is quite capable of criticizing the Cons firmly and does so often. Not so the Star (except DiManno), which is a predictable mouthpiece for half of Parliament. Ditto the CBC. The same is going on in the States. Fox News, the growing and most-watched outlet, has stopped drinking the Koolaid and has grown out of it’s rote, shrill anti-progressive biases, while its competitors have gone the other way and become the faithful lapdogs of the Dems,. They are all struggling with ratings. At least so says the rigourously honest and always insightful solid leftist, Matt Taibbi.

    Trump, Brexit, Ford, Alberta, Quebec and many other examples around the world. When is the progressive world going to smell the flowers and stop seeing the other side as a bunch of ignorant, deplorable know-nothings who can barely read and need to be preached at rather than debated with?

    The Toronto Star, cancelled due to boredom.

  4. joe says:

    If Trudeau doesn’t give the Star more money will they turn on him?

  5. Gord says:

    The Star and the CBC aren’t even *trying* to hide their bias anymore as the media outlets of record for the Laurentian Elite and house organs of the Liberal Party of Canada.

    I’m not naive enough to think that Bell GlobeMedia and Postmedia don’t have their own agendas too, but at least the Globe, the CTV and the National Post try to be balanced.

  6. Derek Pearce says:

    So how in the hell does the National Post still survive if even the Star is in this bad a shape?

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