Warner Music Group hikes dividend by 6.7%

Warner Music Group Corp. (WMG) today announced a 6.7% dividend hike to 16 cents quarterly per share. Last year WMG hiked its dividend by 25 percent to 15 cents, the first hike since the company became publicly traded in June 2021. 

The next dividend is payable on September 1, 2022, to stockholders of record as of the close of business on August 24, 2022. The new dividend yield for WMG is 2.4% at a stock price of $27.33. The next ex-dividend date for WMG is August 23, 2022.

Warner Music Group (WMG) is a music entertainment company. WMG operates in more than 70 countries through a network of affiliates and licensees. The company’s Recorded Music division includes the labels Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics and Warner Music Nashville. WMG’s music publishing arm, Warner Chappell Music, has a catalog of more than 1.4 million musical compositions. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick the live music app, EMP the merchandise e-tailer, and UPROXX the youth culture destination. Warner Music became publicly traded in June 2020 and initiated a dividend in August 2020. Warner Music Group Corp. became publicly traded on June 3, 2020, offering 77,000,000 shares of its Class A common stock at a public offering price of $25.00 per share.