The Dynamic Dividend

Gannett’s Huge Dividend Hike Launches Yield Over 5%

Gannett Co. (GCI) declared a quarterly dividend of $0.20 per share today, which is a 150% increase over its previous two payouts and a 400% improvement over the dividend paid during the same period last year by the media and marketing solutions company.

The aggressive move comes just seven months after Gannett doubled its dividend, marking the first time the company had given its shareholders a raise since slashing its quarterly payout by 90% (from a peak of $0.40 per share all the way down to $0.04 per share) at the start of 2009 to pay down debt.

Shares of GCI are currently trading at $15.71, where they now yield 5.09%. The stock is up nearly 14% already this year, including a 5% advance today.