LONDON, UK / ACCESSWIRE / March 08, 2018 / 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 March 09, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on March 08, 2018. 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 February 28, 2018, Gannett announced that the Board of Directors declared a regular quarterly cash dividend of $0.16 per share of common stock, payable on March 26, 2018, to shareholders of record at the close of business on March 12, 2018.
Gannett's indicated dividend represents a yield of 6.26%, which is more than three times higher than the average dividend yield of 1.99% for the Services sector. The Company has raised dividend for two years in a row.
Dividend Insight
Gannett has a dividend payout ratio of 68.1%, which means that the Company spends approximately $0.68 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 $1.03 for the next year, which is substantially higher than the Company's annualized dividend of $0.64 per share.
Gannett's net cash flow from operating activities was approximately $72.8 million in Q4 2017 compared to $47.6 million in the prior year's same quarter. As of December 31, 2017, the Company had a cash balance of $120.6 million and a balance on its revolving line of credit of $355.0 million, or net debt of $234.4 million. Gannett's long-term pension liabilities totaled $421.9 million at year-end, down $256.1 million from the end of Q3 2017 primarily due to strong asset returns during 2017. The Company's balance sheet remains strong and it is well positioned over the long-term to sustain its dividend distribution.
Recent Development for Gannett
On February 16, 2018, Gannett announced that its 2018 Annual Meeting will be held at the company's corporate headquarters in McLean, Virginia on May 08, 2018. Holders of the Company's common stock at the close of business on March 09, 2018, the record date, will be entitled to receive notice of and vote their shares at the 2018 Annual Meeting.
About Gannett Co., Inc.
Gannett is a next-generation media Company committed to strengthening communities across the Company's network. Through trusted, compelling content and unmatched local-to-national reach, Gannett touches the lives of more than 110 million people monthly. With more than 120 markets internationally, it is known for Pulitzer Prize-winning newsrooms, powerhouse brands such as USA TODAY and specialized media properties.
Stock Performance Snapshot
March 07, 2018 - At Wednesday's closing bell, Gannett's stock slightly dropped 0.99%, ending the trading session at $10.05.
Volume traded for the day: 1.34 million shares, which was above the 3-month average volume of 1.01 million shares.
Stock performance in the previous six-month period - up 14.20%; and past twelve-month period - up 24.07%
After yesterday's close, Gannett's market cap was at $1.12 billion.
Price to Earnings (P/E) ratio was at 22.95.
The stock has a dividend yield of 6.37%.
The stock is part of the Services sector, categorized under the Publishing - Newspapers industry.
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