If a company has to operate in a declining business, it might as well make it worthwhile to shareholders. Gannett (GCI) increased its dividend 29% today, to $.40 per quarter.
Gannett already has an advantage over most newspaper stocks. Over that last two years, its shares are down about 25% compared to 60% for McClatchy (MNI) and 80% for The Journal Register (JRC).
Gannett is the largest chain in the industry, and Wall St. looks at it as the one with the best balance sheet and probably th best shot at gaining real revenue online. Now, it has a yield of about 3% as well.
Douglas A. McIntyre
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