The McClatchy Co. (NYSE: MNI) was the only newspaper company announcing any potentially market-moving news Wednesday. Just before the 4 p.m. EST closing, McClatchy announced it would pay a fourth-quarter dividend. The payout of 9 cents a share is the same as its Q3 dividend, which was half the amount paid in prior quarters. There had been speculation that McClatchy, which has said it intends to get its debt down to $2 billion by the end of the year, might eliminate the dividend. MNI closed at $2.15, up 12 cents, or 5.9%.
Thursday, December 4, 2008
McClatchy declares 9 cent dividend, Wall Street likes the move
Fitz and Jen: