Gannett Co., Inc.’s (NYSE:GCI) Board of Directors today declared a
quarterly dividend of 4 cents per share, payable on April 1, 2009 to
shareholders of record as of the close of business March 6, 2009. This
is a reduction from the first quarter dividend rate of 40 cents per
share.
“Today’s action by the Board is another prudent response to the
full-fledged recessions in the U.S. and UK and the continuing
difficulties in the credit markets,” said Craig A. Dubow, chairman,
president and chief executive officer.
“The reallocation of more than $325 million of free cash flow annually
to pay down debt will further strengthen our balance sheet, provide us
with even more financial flexibility and position us well to continue to
seize opportunities for growth. This dividend represents the 163rd
consecutive dividend paid by the company since 1967.”
Gannett Co., Inc. is a leading international news and information
company that publishes 85 daily newspapers in the USA, including USA
TODAY, the nation’s largest-selling daily newspaper. The company also
owns nearly 900 non-daily publications in the USA and USA WEEKEND, a
weekly newspaper magazine. Gannett subsidiary Newsquest is the United
Kingdom’s second largest regional newspaper company. Newsquest publishes
17 daily paid-for titles, more than 200 weekly newspapers, magazines and
trade publications, and a network of award-winning Web sites. Gannett
also operates 23 television stations in the United States and is an
Internet leader with sites sponsored by its TV stations and newspapers
including USATODAY.com, one of the most popular news sites on the Web.
Gannett Co., Inc.
For media inquiries, contact:
Tara Connell
Vice
President of Corporate Communications
703-854-6049
tjconnel@gannett.com
or
For
investor inquiries, contact:
Jeffrey Heinz
Director, Investor
Relations
703-854-6917
jheinz@gannett.com
