New York Times Brings Back Dividend Payout After Five-year Break

(Keith Bedford for The Wall Street Journal) Participants in Harlems African American Day Parade are pictured Sunday. Former city Comptroller Bill Thompson appeared at a breakfast for the eventon Monday announced he would be bowing out of the race for mayor. (PJ Smith for The Wall Street Journal) Former World Wrestling Foundation wrestler Bruno Sammartino is pictured with memorabilia at the Italian American Museum in New York on Sunday. Columnist Ralph Gardner met the wresting legend during Little Italys San Gennaro festival. (Keith Bedford for The Wall Street Journal) The blistered shishito peppers at Milkflower, a new pizzeria in Astoria, Queens, owned and operated by brothers Peter and Danny Aggelatos. (Adrian Fussell for The Wall Street Journal) From left, Atlas Social Club owners Asi Mazar, Josh Wood, Pablo Raimondi and Benjamin Maisani pose for a photo. The quartet is targeting sophisticated, older-than-35 gay men hitting the town. (Cassandra Giraldo for The Wall Street Journal) New York City Public Advocate Bill de Blasio hugs Bill Thompson after Mr. Thompson conceded the Democratic nomination for mayor to de Blasio in front of City Hall on Monday. (Kevin Hagen for The Wall Street Journal) Proceeds from the sale of this Robert A.M. Stern designed townhouse on 81st Street, listed for slightly under $16 million, will benefit a charitable trust for animals. (Keith Bedford for The Wall Street Journal) Dance teacher Luigi leads a class at Luigis Jazz Centre at Studio Maestro in Manhattan. Eugene Louis Faccuito, 88 years old and slowed by a couple of strokes, is still teaching regularly.

through its Class B shares, has pressured the company to resume dividends that used to supply it with as much as $20 million annually. If the dividend remains at 4 cents a share, the familys 13 percent stake in the company would give it $774,163 each quarter, or $3.1 million annually from the dividends. Times Co. stopped paying its dividend five years ago as it coped with a decline in revenue from print advertising as readers turned to the Internet. The company has boosted circulation sales by asking online readers to pay for access to its news articles. The strength of our balance sheet justified the restoration of a dividend, Chief Executive Officer Mark Thompson said in the statement. Given the expectation of continued volatility in advertising revenue and the fact that our growth strategy is at an early stage of development, we will maintain a prudent view of both the balance sheet and free cash flow . The dividend will be paid to shareholders of record as of Oct. 9, the company said. Times Co. gained less than 1 percent to $11.54 yesterday in New York before the dividend was announced. To contact the reporter on this story: Edmund Lee in New York at elee310@bloomberg.net To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net New York Times Brings Back Dividend Following Five-Year Hiatus Scott Eells/Bloomberg Times Co. has boosted circulation sales by asking online readers to pay for access to its news articles.

Annual American Community Survey shows New York City has the largest gap of income inequality in United States

Poverty persists in New York. In 2007, before the recession hit, 18.5% of the residents of the citys five boroughs lived below the poverty level. By 2012, 21.2% were living below the poverty line, defined as total annual income of $23,283 for a family of four. When the surrounding suburbs are included, 14.8% live below the poverty line. But there also is good news in the new numbers. More New Yorkers have health insurance, an increase largely explained by more baby boomers becoming eligible for Medicare. In the metro area, 12.8% lacked insurance last year, a drop from 13.2% in 2011. Other data is very eclectic. For example, there were 4,275 females between the ages of 15 and 19 in the five boroughs who gave birth last year. Of those, 91% were unmarried. There were 972,920 people employed in education, health care and social services in the city and just 5,320 employed in agriculture, forestry, fishing and hunting.