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John Wiley & Sons lifts dividend by 4 percent

HOBOKEN, N.J. (AP) -- John Wiley & Sons Inc. is boosting its quarterly dividend by 4 percent to 25 cents per share from 24 cents per share.

The Hoboken, N.J.-based publisher said Thursday that the dividend will be paid on July 15 to shareholders of record on July 1.

Its board also approved the repurchase of up to 4 million shares.

On Tuesday the company reported that its fiscal fourth-quarter net income dropped as it booked charges in its effort to focus more on its digital business.

John Wiley & Sons is in the midst of a focus shift away from print — its assets had included the Frommer's travel brand, CliffsNotes and Webster's New World Dictionary — and toward digital products. In addition to shedding its consumer print publications, the company recently acquired online learning company Deltak. It also owns the For Dummies brand.

Shares of John Wiley & Sons fell 44 cents to $39.51 in afternoon trading.