Gannett Approves 40-Cent Dividend
McLEAN, VA – Gannett Co., Inc.’s (NYSE: GCI) Board of Directors today declared a dividend of 40 cents per share. 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. “Our strong cash flow and solid financial position enable us to maintain our ongoing commitment to return value to our shareholders.”
The quarterly dividend is payable on October 1, 2008, to shareholders of record as of the close of business on September 12, 2008.
Gannett Co., Inc. is a leading international news and information company that publishes 85 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 900 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes 17 daily paid-for titles, approximately 300 weekly newspapers, magazines and trade publications, and a network of award-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
For media inquiries:
Tara Connell
Vice President of Corporate Communications
(703) 854-6049
tjconnel@gannett.com
For investor inquiries:
Jeff Heinz
Director, Investor Relations
703-854-6917
jheinz@gannett.com