TEGNA Inc. Announces $300 Million Accelerated Share Repurchase Agreement and Increases Regular Quarterly Dividend by 20% Following Termination of Merger Agreement with Standard General

May 22, 2023

TEGNA Inc. (NYSE: TGNA) today announced a $300 million accelerated share repurchase (“ASR”) program and a 20 percent increase in its quarterly dividend. These initial actions to return excess capital to shareholders follow the termination of TEGNA’s merger agreement with an affiliate of Standard General L.P. Under the terms of the merger agreement, TEGNA is entitled to receive a termination fee of $136 million from Standard General.

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