ooops.... forgot to ping the mainman on the case
A dividend cut would make it easier for the company to meet its credit metrics, said Moody’s analyst John Puchalla. But such a move also could damage the solidarity of the Ochs-Sulzberger family, which controls New York Times Co. through ownership of a special class of super-voting shares. The dividend pays family members over $25 million annually, an amount that has increased over the years in continuation of a tradition of richly rewarding shareholders at all costs. A cut could reduce some family members’ incentive to hold onto the company.