LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors has a free review on Gannett Co., Inc. (NYSE: GCI) following the Company's announcement that it will begin trading ex-dividend on December 11, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on December 08, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on GCI:
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Dividend Declared
On October 19, 2017, Gannett announced that the Board of Directors declared a regular quarterly cash dividend of $0.16 per share of common stock, payable on December 26, 2017, to shareholders of record at the close of business on December 12, 2017.
Gannett's indicated dividend represents a yield of 5.48%, which is more than double the average dividend yield of 1.88% for the Services sector.
Dividend Insights
Gannett has a dividend payout ratio of 71.1%, which denotes that the Company spends approximately $0.71 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Gannett is forecasted to report earnings of $0.87 for the next year, which is substantially above the Company's annualized dividend of $0.64 per share.
Gannett's net cash flow from operating activities for Q3 2017 was approximately $34.1 million compared to $24.6 million in Q3 2016. During Q3 2017, the Company paid dividends of $18.1 million and repurchased two million shares of its outstanding common stock for $17.4 million.
As of September 24, 2017, Gannett had a cash balance of $110.0 million and a balance on its revolving line of credit of $375.0 million, or net debt of $265.0 million. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Gannett
On November 13, 2017, Gannett announced a major organizational change that more definitively aligns with the Company's refreshed business strategy, which focuses on two primary businesses: Marketing Solutions and Consumer.
Gannett named two executives to lead the Company's two primary businesses:
- Sharon Rowlands, CEO of ReachLocal, has been named President of USA TODAY NETWORK Marketing Solutions. Rowlands will focus on further strengthening and growing the Company's business-to-business segment, leveraging ReachLocal and SweetIQ, but also USA TODAY NETWORK's powerful media assets and national and local brands.
- The Consumer business will be led by Maribel Perez Wadsworth, current Chief Transformation Officer, who has been named President of USA TODAY NETWORK. Wadsworth will lead USA TODAY NETWORK's consumer business to include strategy and operations for the Company's portfolio of media brands such as USA TODAY, more than 100 local news and niche content brands such as For The Win (FTW) and Grateful.
As part of the new structure, Kevin Gentzel's role as Gannett's Chief Revenue Officer will expand to leading all advertising and marketing solutions revenue in North America. Gentzel will continue to lead national sales, GET Creative, revenue operations and sports media teams, and add all local sales and sales support teams, which include automotive and recruitment verticals, and client analytics.
About Gannett
Gannett is an innovative, digitally focused media and marketing solutions Company committed to strengthening communities across Gannett's network. Gannett touches the lives of more than 110 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Gannett brands include USA TODAY NETWORK with the iconic USA TODAY and more than 100 local media brands, digital marketing services companies ReachLocal and SweetIQ, and UK media company Newsquest.
Stock Performance Snapshot
December 07, 2017 - At Thursday's closing bell, Gannett's stock fell 2.99%, ending the trading session at $11.34.
Volume traded for the day: 1.22 million shares, which was above the 3-month average volume of 1.12 million shares.
Stock performance in the last month - up 17.03%; previous three-month period - up 35.48%; past twelve-month period - up 15.01%; and year-to-date - up 16.79%
After yesterday's close, Gannett's market cap was at $1.26 billion.
Price to Earnings (P/E) ratio was at 24.71.
The stock has a dividend yield of 5.64%.
The stock is part of the Services sector, categorized under the Publishing - Newspapers industry. This sector was up 0.4% at the end of the session.
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