Meredith board boosts dividend to 40.75 cents

DES MOINES, Iowa (AP) -- Women's magazine publisher Meredith Corp. said Monday that its board increased the company's regular quarterly dividend by 6.5 percent to 40.75 cents.

The Des Moines, Iowa-based publisher of Better Homes and Gardens, Parents and Fitness magazines said the new dividend will be paid on March 15 to shareholders of record as of Feb. 28.

Meredith shares fell 5 cents to $36.29 in afternoon trading. They have traded in a 52-week range of $26.89 in May and $37.84 in mid-September.