Quad/Graphics Raises Quarterly Dividend 33% to $0.10 Per Share
Quad/Graphics, Inc. declared a quarterly cash dividend of $0.10 per share, up from $0.075 previously. The dividend is payable March 13 to shareholders of record as of February 27.
Quad/Graphics, Inc. (NYSE: QUAD) declared a quarterly cash dividend of $0.10 per share, marking a 33% increase from the previous quarterly rate of $0.075 per share. The dividend will be paid March 13, 2026, to shareholders of record as of February 27, 2026. Read more dividend announcements.
The marketing experience company announced the increased dividend alongside its fourth quarter and full-year 2025 financial results. The dividend declaration reflects the company's strong cash generation despite a challenging sales environment.
| Dividend Details | Information |
|---|---|
| Amount | $0.10 per share |
| Previous Amount | $0.075 per share |
| Increase | 33% |
| Record Date | February 27, 2026 |
| Payment Date | March 13, 2026 |
| Frequency | Quarterly |
2025 Financial Performance
Quad reported net sales of $2.4 billion for 2025, down 9.4% from $2.7 billion in 2024. Excluding the impact of the European operations divestiture, net sales declined 4.8%.
The company swung to net earnings of $27 million, or $0.54 per diluted share, compared to a net loss of $51 million, or $1.07 per diluted share, in 2024. Adjusted diluted earnings per share rose 19% to $1.01 from $0.85 in the prior year.
Adjusted EBITDA totaled $196 million in 2025, down from $224 million in 2024. The decline reflected lower sales and increased investments in new offerings, partially offset by reduced selling, general and administrative expenses and improved manufacturing productivity.
Cash Flow and Balance Sheet
Quad generated $96 million in net cash from operating activities and $51 million in free cash flow during 2025. The company also received $37 million from asset sales, including properties in Greenville, Michigan, and Sussex, Wisconsin.
Net debt decreased to $308 million at December 31, 2025, from $350 million a year earlier. The company's net debt leverage ratio stood at 1.57x, essentially flat from 1.56x at year-end 2024.
Quad returned $22 million to shareholders in 2025 through $14 million in cash dividends and $8 million in share repurchases.
2026 Outlook
The company issued guidance for 2026 calling for adjusted net sales to decline 1% to 5%, excluding the divested European operations. Adjusted EBITDA is expected to range from $175 million to $215 million.
Free cash flow is projected between $40 million and $60 million, with capital expenditures of $55 million to $65 million. Quad expects its year-end net debt leverage ratio to be approximately 1.5x.
Chairman and CEO Joel Quadracci said the company is shifting its revenue mix toward higher-value offerings including direct mail, packaging and integrated marketing services. The company completed the integration of Enru's co-mailing capabilities during the year, expanding mail pool sizes and improving postage savings for clients.