New York – December 17, 2014 – Scholastic Corporation (NASDAQ: SCHL) is pleased to announce that its Board of Directors today declared a quarterly cash dividend of $0.15 per share on the Company’s Class A and Common Stock for the third quarter of fiscal 2015. The dividend is payable on March 16, 2015 to all shareholders of record as of the close of business on January 30, 2015.

About Scholastic
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of
children's books and a leader in educational technology and related services and children's
media. Scholastic creates quality books and ebooks, print and technology-based learning
materials and programs, magazines, multi-media and other products that help children learn both
at school and at home. The Company distributes its products and services worldwide through a
variety of channels, including school-based book clubs and book fairs, retail stores, schools,
libraries, on-air, and online at www.scholastic.com.

SCHL: Financial

Contact: Scholastic Corporation

Investors: Gil Dickoff, 212-343-6741 (investor_relations@scholastic.com)
Media: Kyle Good, 212-343-4563 (kgood@scholastic.com)