Media giant Gannett Co Inc (GCI) recently announced a 150% increase in its dividend. GCI will now pay an annual dividend of 80 cents per share. This means GCI will now yield over 5%. This yield makes GCI the highest-yielding media stock by far. For investors looking to own a media company and generate income, GCI is the premier option.
- Publisher of 82 daily newspapers including the USA TODAY.
- Operator of 23 television stations.
- Published of about 600 magazines.
- $1.89 trailing earnings per share
- 7.75 times forward earnings
- $1 billion net debt
- New York Times Co (NYT): 0%
- Washington Post Co (WPO): 2.52%
- News Corp (NWS): 0.84%
- Viacom (VIA): 1.86%
- Walt Disney Co (DIS): 1.45%
- Time Warner Inc (TWX): 2.79%
With GCI's increased dividend, it will yield much more than other media companies. This puts GCI in the unique place of being the go-to name in the sector when it comes to generating income. In addition to the increased dividend, GCI also announced a $300 million share buyback plan.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.