New York – December 14, 2016 – 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 2017. The dividend is payable on March 15, 2017 to all shareholders of record as of the close of business on January 31, 2017.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, a leading provider of print and digital instructional materials for pre-K to grade 12, and a producer of educational and entertaining children's media. The Company creates quality books and ebooks, print and technology-based learning programs, classroom magazines and other products that, in combination, offer schools customized solutions to support children's learning both at school and at home. The Company also makes quality, affordable books available to all children through school-based book clubs and book fairs. With a 96 year history of service to schools and families, Scholastic continues to carry out its commitment to "Open a World of Possible" for all children. Learn more 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)