Gannett Announces Tax Characterization of 2019 Dividends

Gannett Co., Inc. (“Gannett” or the “Company”) (NYSE: GCI) announced today the tax characterization of its 2019 common stock dividend payments for shareholders. Since dividend payments for 2019 were made prior to the completion of their recent merger, dividend information for both New Media Investment Group Inc. (“New Media”), as well as the legacy Gannett Co., Inc. (“Legacy Gannett”), can be found below.

New Media Common Stock Dividends

During 2019, dividends for New Media’s common stock (CUSIP #64704V106) were $1.52 per share. The Company’s distributions in 2019 are considered a return of capital, as set forth below in more detail.

NEW MEDIA INVESTMENT GROUP INC. AND SUBSIDIARIES

Tax Characterization of 2019 Dividends

Record Date

 

Pay Date

 

Distribution

 

Form

 

Ordinary Dividend

 

Qualified Dividend(1)

 

Long-Term Capital Gain

 

Return of Capital

4Q 18

3/11/2019

 

3/20/2019

 

0.38

Cash

0.00

0.00

0.00

 

0.38

1Q 19

5/13/2019

 

5/22/2019

 

0.38

Cash

0.00

0.00

0.00

 

0.38

2Q 19

8/20/2019

 

8/28/2019

 

0.38

Cash

0.00

0.00

0.00

 

0.38

3Q 19

11/1/2019

 

11/12/2019

 

0.38

Cash

0.00

0.00

0.00

 

0.38

Total

$

1.52

0.00

0.00

0.00

$

1.52

 


(1) Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount.

Legacy Gannett Common Stock Dividends

During 2019, dividends for Legacy Gannett’s common stock (CUSIP #36473H104) were $0.64 per share. Legacy Gannett’s distributions in 2019 are considered ordinary dividends and are taxable, as set forth below in more detail.

LEGACY GANNETT AND SUBSIDIARIES

Tax Characterization of 2019 Dividends

Record Date

 

Pay Date

 

Distribution

 

Form

 

Ordinary Dividend

 

Qualified Dividend(1)

 

Long-Term Capital Gain

 

Return of Capital

4Q 18

3/11/2019

 

3/25/2019

 

0.16

Cash

0.16

0.00

0.00

 

0.00

1Q 19

6/10/2019

 

6/24/2019

 

0.16

Cash

0.16

0.00

0.00

 

0.00

2Q 19

9/16/2019

 

9/30/2019

 

0.16

Cash

0.16

0.00

0.00

 

0.00

3Q 19

11/1/2019

 

11/12/2019

 

0.16

Cash

0.16

0.00

0.00

 

0.00

Total

$

0.64

0.64

0.00

0.00

$

0.00

 


(1) Qualified Dividend is a subset of, and included in, the Ordinary Dividend amount.

The data provided in this press release is provided for informational purposes only and does not constitute tax advice. Stockholders are urged to consult their own tax advisors regarding any issues or decisions regarding the proper tax treatment of the dividends paid on their shares. Historical dividends paid are no indication or guaranty that any dividends or of the amount thereof that may be paid in the future.

About Gannett

Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across our network. With an unmatched reach at the national and local level, Gannett touches the lives of nearly 140 million people monthly with our Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Gannett brands include the USA TODAY and more than 260 daily local newspaper brands, digital marketing services companies ReachLocal, WordStream, and ThriveHive and U.K. media company Newsquest. Effective November 20, 2019, following the completion of its merger with Gannett, New Media Investment Group Inc. trades on the New York Stock Exchange under Gannett Co., Inc. and its ticker symbol has changed to “GCI”. To connect with us, visit www.gannett.com.

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Ashley Higgins & Stacy Cunningham, Gannett Investor Relations [e-mail] [phone]