GCI shares plunge; NYT slashes dividend 74%

Gannett’s stock dived again today, closing at $6.09 a share, down 72 cents, or 11% — the second consecutive day of steep losses. That boosted the stock’s dividend yield further into nosebleed territory: 26%.

Meanwhile, the New York Times Co. announced late today that it’s slashing its dividend — and its yield had only reached 16%. That’s likely going to put more pressure on Gannett’s board of directors to rethink GCI’s dividend payout.

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