Gannett Co Inc Plans Quarterly Dividend of $0.16 (NYSE:GCI)
Gannett Co Inc (NYSE:GCI) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Friday, November 1st will be given a dividend of 0.16 per share on Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Thursday, October 31st.
Gannett has increased its dividend payment by an average of 21.1% per year over the last three years. Gannett has a dividend payout ratio of 59.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gannett to earn $0.59 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 108.5%.
GCI stock opened at $10.83 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.82. Gannett has a one year low of $7.41 and a one year high of $11.99. The stock has a market cap of $1.24 billion, a PE ratio of 10.03 and a beta of 1.28. The firm has a 50 day simple moving average of $10.69 and a two-hundred day simple moving average of $9.51.
A number of equities analysts have commented on GCI shares. ValuEngine cut shares of Gannett from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research note on Saturday, August 10th. Finally, Noble Financial reissued a “market perform” rating on shares of Gannett in a research note on Tuesday, August 6th.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 150 news brands and 150 magazines in the United Kingdom.
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