By NEMS Daily Journal
TUPELO – The board of directors of Journal Inc. recently authorized a regular quarterly dividend payment of $100,000 to its sole shareholder, the CREATE Foundation. This dividend payment will complete the dividend for 2011, with regular dividends paid for the year totaling $475,000.
Journal Inc. is the parent company of Journal Publishing, Journal Interactive and Journal Logistics.
Journal Publishing publishes the Daily Journal, Monroe Journal, Itawamba County Times, Pontotoc Progress, Chickasaw Journal, Southern Sentinel, Southern Advocate, New Albany News-Exchange, and seven community newspapers in the West Tennessee market. It also runs a regional printing service.
Journal Interactive operates 13 websites, and Journal Logistics provides logistics services to include commercial, industrial and office space, long- and short-haul trucking services and inventory management services for local businesses interested in reducing operating and capital costs and interested in focusing on their core competencies.
Journal stock was given to CREATE in 1983 by George and Anna Keirsey McLean to ensure continued local ownership of the largest Mississippi-owned daily newspaper and its subsidiary operations.
Since the transfer of Journal stock, the company has declared dividends totaling more than $11.3 million to the CREATE Foundation. The CREATE Foundation was established in 1972 and is a nonprofit charitable corporation serving as Northeast Mississippi’s community foundation.
Dividends are used by CREATE to make grants to enhance the quality of life in Northeast Mississippi and to stimulate private giving from individual and corporate donors.
“When advertisers, subscribers and our logistics customers do business with the Journal, we reinvest in the community, which in turn helps strengthen the economic vitality and quality of life in Northeast Mississippi and the markets we serve,” explained Journal CEO Clay Foster.
Journal Inc. reaches approximately 90 percent of the households in its primary market area with one or more of its print products. It is experiencing a 29 percent increase in web traffic in 2011 compared to last year.
For more information about the Journal, visit NEMS360.com. For more information about CREATE, visit createfoundation.com.