At yesterday's conference call, Kindler mentioned that by 2013, he expected the company to match the industry average of about a 40% payout of non-GAAP earnings.
Since he is predicting $2.30 in such earnings for 2012 and 2013 should be higher by perhaps five to ten cents, a 40% payout on $2.40 in 2013 earnings would mean 96 cents a share which is what I have been predicting. It should be a rise of 8 cents a year until then as follows:
72 cents in 2010 (actual)
80 cents in 2011
88 cents in 2012
96 cents in 2013
Catherine Arnold of Credit Suisse is predicting a dividend of 96 cents for all years from 2012 through 2015.
I have no idea why he would care about estate tax. That was my question. His worrying about estate tax is like me worrying about the sales tax on a new Piper Senaca V with an IFR panel. It just aint gonna happen.
Most of them.
I must admit that I am of two minds on that topic myself.
Personally, I benefit a lot by low tax rates on dividends, and there is the issue of why they should effectively be double-taxed.
OTOH, giving a preference to money earned through actual work, rather than that which comes from collected assets, does seem to be more in the Spirit of America, and the Horatio Alger concept.
I can't remember who said it, but I remember someone once saying that the best system would make it easy to get rich by working, but hard to stay rich without working. An interesting concept, though probably not practical to implement in the real world.
> At yesterday's conference call, Kindler mentioned...
Re: PFIZER meet analysts at Noon... 18-Oct-07 08:43 am
These conference calls are a complete waste of time in my book. You already know what you need to know - it's right there in the press release. Do you really need to hear a recitation of the numbers and then a Q & A session where the questioners are carefully screened and the questions asked are all softballs?