E.W. Scripps to skip Q1 2024 preferred dividend to accelerate deleveraging

E.W. SCRIPPS Co

Skipped Q1 2024 dividend on 6,000 shares of Series A preferred (face value $100k each); dividend rate increases to 9% from 8%.
Company says it has sufficient liquidity to pay the dividend but is prioritizing deleveraging and paydown of traditional bank debt.
Preferred shares are perpetual; redeemable at 105% of face value beginning fifth anniversary (2026) or upon change of control.
Action taken to improve flexibility for accelerating debt reduction.

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