By: E&P Staff GateHouse Media Inc., the big Fairport, N.Y.-based community newspaper publisher that floated its initial public offering last fall on a business model calling for a high dividend, said Monday its board declared a cash dividend on its common stock of 40 cents per share for the quarter ended June 30, 2007.
"The newly announced dividend reflects an increase of 25% over the dividend at the time of the company's IPO and an increase of 8% over the prior quarter's dividend," GateHouse said in a statement.
The dividend, announced after the close of trading, is payable on July 16, 2007 to holders of record of GateHouse's common stock on June 29.
GateHouse (GHS:NYSE) closed at $18.83 Monday, down 13 cents.
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