Wednesday, February 27, 2008

Holding steady, Gannett OKs 40-cent dividend

The board of directors, on the second day of a two-day meeting, said the quarterly dividend is payable April 1 to shareholders of record as of the close of business March 7. It was a long shot, but I've been hoping board members would do something radical -- like cutting the dividend, and reinvesting the proceeds in Gannett newsrooms, research and development. In early trading, Wall Street isn't so happy: GCI shares have fallen as much as 2%.

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