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Bancroft Family Doubled Dividend Before Approving Bid: Report

The family that controls Dow Jones doubled the quarterly dividend it receivesahead of its decision to approve a takeover offer from News Corp., the New York Post reported Monday.

The Bancroft family, which usually awards itself a quarterly cash payout of 25 cents a share, increased its last dividend to 50 cents a share, or $10.3 million, the Post reported.

The $5 billion offer for the U.S. publisher must now be approved by the rest of Dow Jones' shareholders.