Gannett Co (GCI) has declared a dividend of 40 cents per share. The quarterly dividend is payable on October 1, 2008, to shareholders of record as of the close of business on September 12, 2008.
The $0.40 dividend is the same as last quarter. The ex-dividend date is September 10th and the dividend yield is 9%.
This is the 161st consecutive dividend paid by the company since 1967. “With a substantial current dividend yield of 9 percent, and in view of the challenging business and economic environment, we have decided not to increase our dividend at this time,” said Craig A. Dubow, chairman, president and chief executive officer of Gannett.
I started dollar cost averaging into GCI since May 2008. I expected that GCI will raise its dividend this month. That being said I would stop contributing new money to this position and just let the dividends reinvest. The payment is adequately covered for now, so this "freeze" should not be a reason for dividend investors to sell.
Relevant Articles:
- Selected Dividend Increases in June
- Gannett Co (GCI) Dividend Analysis
- Some Cheap Stocks to Consider
- My Dividend Growth Plan - Stock Selection
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Anne Scheiber worked as an auditor for the IRS. She retired at the age of 51 in 1944, and focused on managing her portfolio for the next 51 ...
-
This morning Wells Fargo cut dividends by 80%, from 51 cents/share to 10 cents/share. This was not a surprise, since the bank stated that th...
-
Grace Groner is one of the most successful dividend investors out there, on par with Anne Scheiber and Ronald Read . She definitely fits th...
-
Peter Lynch is probably one of the best-known stock pickers of our time and certainly among the most successful. He was portfolio manager of...
-
Dividend growth investing is a simple but effective strategy. It is widely misunderstood too. As a Dividend Growth Investor, I look for co...
-
Warren Buffett is arguably the best investor of our time . He turned a struggling company called Berkshire Hathaway and transformed it into ...
-
Charlie Munger taught me that in order to reach a certain goal, I need to invert. In other words, once I identify my end goal, I would have ...
-
The Dow Jones Industrials average is the oldest continuously updated stock index in the US. It was launched in 1896 by Charles Dow, who incl...
-
Philip Morris International Inc (PM) manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related...
-
Lowe's Companies, Inc. (LOW), together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and ...
Wondeful except that Gannett owns and presumably derives a portion of its income from Topix and this is not a sustainable business model (online slander and cyber bullying).
ReplyDeleteDoes Gannett have a plan to reform or divest of Topix once the gold runs out on cyber abuse?