Wednesday, February 24, 2010

Day 2: As board meets, dividend news is likely

(Updated at 3:36 p.m.) That 4-cent dividend has now been announced.

Gannett's 10-member board of directors concludes a regularly scheduled two-day meeting today, with members expected to announce another quarterly dividend after stock markets close at 4 p.m. ET. The quarterly dividend is now 4 cents a share. GCI recently traded for $14.91, up about 1%. Its 52-week range: $1.85 to $17.33.

Earlier: Board said meeting; likely topics include bonuses

2 comments:

  1. Business newswire saying they declared $.04 again, April 1 as of March 5th.

    No surprise. I can't see the dividend changing before 2011 personally, both for debt reasons and for the utter tone-deafness it would take to be raising the dividend while still in layoffs mode --and layoff/restructuring mode will continue through most of this year.

    ReplyDelete
  2. Oh, and another reason to think a new CEO is at least a year off --let the outgoing guy be the bad guy on the layoffs/restructuring already in the cards and still being worked through for most of this year. Then the new CEO can be the savior.

    ReplyDelete

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