In broad selloff, GCI stock plunges more than 12%

(Updated.) Gannett’s shares closed at $6.81 this afternoon — down 97 cents, or 12.5%, as stock markets overall tanked on renewed investor worries about the economy. The widely watched S&P-500 Index also fell, but by only half GCI’s rate.

Gannett’s dividend yield has now climbed to a jaw-dropping 23%, while the company’s market value has slipped to $1.6 billion.

[Image: Google Finance]

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