The board approved a 29% hike in the quarterly dividend, the single-biggest increase since 1995, according to this dividend history. But Wall Street wasn't impressed: GCI shares traded at a new low during the day, coming within pennies of falling through $50.
To be sure, it was an especially bad day on Wall Street, with major market indexes plunging. Still, this was just the sort of shareholder income increase that was supposed to make institutional investors happier. What happened?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
Note: Only a member of this blog may post a comment.