Markets is sometimes unpredictable, but people make it moving by reacting in different ways. This reaction should make us think, many big stockholders of CEL are not divvy-catchers ,but people who interpreted this decision as a good decision to save money to improve the company finance to invest in an increasing competitive market. I think people just look for divvy-stocks should look at REITs: it's also a good moment for REITs (as long as interest rate will be kept at this almost zero level). The bad part for people like me and you is that without dividend , it will be hard for the stock price to reach my (and perhaps also your) average cost price. My average price for CEL is $13.93, minus 5-6 dividends I have already got is around $12, but from $7 to $12 is a long and maybe impossible way.
Been playing the tax loss game while keeping the stock. It took several months but I was able to reduce my total cost to about $8.00 per share. Originally bought the stock for the dividend. Dividends are a requirement for most of the stocks I own. Lost out on stocks apple and GOOG because they don't pay a dividend.
Nothing really "fishy" at all . The company appears to be changing it's business model into a more wholeistic communications company . Rather than just a cell company . Look at their issues with PArtner in video. with holding a dividend is a good strategic move with bigger investors it instils confidence and bolsters cash flow . The trouble is if you bought this as strictly a dividend play you are going to be disappointed . I forsee this being a mid teens SP with a 10 -15% div. hope this helps .