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Yesterday Gannett slashed its quarterly dividends by 90% to $0.04/share. The company is responding to the recession in US and UK by reducing the payout to shareholders, which will save it close to $325 million/year. The new dividend is a cent and a half lower than its first dividend in 1967 of $0.054/share. The move comes about a month after company executives said they would meet to evaluate the dividend.

 

Submitted: Feb 26, 2009    Views: 63    Comments: 0    Likes: 2   


View Article: http://www.dividendgrowthinvestor.com/2009/02/demise-of-newspaper-i...


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