Gannett Elects New Director, Declares Quarterly Dividend, and Approves $150 Million Share Buyback Program
July 28 2015 - 5:01PM
Business Wire
Gannett Co., Inc. (NYSE: GCI) (“Gannett” or “Company”) announced
today that Stephen W. Coll has been elected to its Board of
Directors, effective immediately. Mr. Coll is the Dean of the
Graduate School of Journalism for Columbia University in New York
and is also a contributor to The New Yorker magazine. Previously
Mr. Coll served as President of New America Foundation, a public
policy institute and think tank in Washington, DC. Mr. Coll spent a
large part of his career with the Washington Post as a writer,
South Asia bureau chief and managing editor.
“Steve is a well-known and respected journalist and winner of
two Pulitzer Prizes. The Company is pleased to have someone who
shares our passion for journalism join the Board of Gannett,” said
Robert J. Dickey, President and Chief Executive Officer of
Gannett.
Also today, the Company announced that the Board of Directors
declared a quarterly cash dividend of $0.16 per share of common
stock, payable on October 1, 2015 to shareholders of record at the
close of business on September 4, 2015.
This is the first quarterly dividend declared since the spin-off
of the Company from its former parent on June 29, 2015.
The Company also announced that the Board of Directors approved
the previously announced $150 million, three-year common share
buyback program. “We are pleased that the Board has acted quickly
to approve this program and expect to use the repurchase program
opportunistically along with the dividend to meet the Board’s
commitment to deliver direct returns to shareholders,” Dickey
said.
Gannett Co., Inc. (NYSE: GCI) is a next-generation media
company committed to strengthening communities across our network.
Through trusted, compelling content and unmatched local-to-national
reach, Gannett touches the lives of nearly 100 million people
monthly. With more than 110 markets internationally, it is known
for Pulitzer Prize-winning newsrooms, powerhouse brands such as USA
TODAY and specialized media properties. To connect with us, visit
www.gannett.com.
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Gannett Co., Inc.For media inquiries, contact:Amber
AllmanVice President, Corporate
Communications703-854-5358aallman@gannett.comorFor investor
inquiries, contact:Michael P. DickersonVice President, Investor
Relations703-854-6185mdickerson@gannett.com
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