Today Wells Fargo (WFC) and Gannett (GCI) both announced increases in their quarterly dividends.
Wells Fargo increased its quarterly dividend 10.7% to 31 cents per share versus 28 cents per share in the same quarter last year. This represents the 20th consecutive year WFC has increased its dividend and is the 25th increase since 1987. The estimated payout ratio on estimated 2007 earnings of $2.74 is 45%. WFC carries an A quality ranking from Standard & Poor's.
Wells Fargo increased its quarterly dividend 10.7% to 31 cents per share versus 28 cents per share in the same quarter last year. This represents the 20th consecutive year WFC has increased its dividend and is the 25th increase since 1987. The estimated payout ratio on estimated 2007 earnings of $2.74 is 45%. WFC carries an A quality ranking from Standard & Poor's.
Gannett also increased its dividend today by 29%. The quarterly dividend increases to 40 cents per share versus 31 cents per share in the same quarter last year. The payout ratio based on 2007 estimated earnings of $4.53 is approximately 35%. GCI has carries an A S&P quality ranking.
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