At this price the dividend reinvesting community is getting a windfall of shares, and as a result a ton of extra income. There is no way to know when the bottom is set, it might be 5.08 maybe not. Ge ceo Immelt said no dividend cut a few years ago 2008, to then cut during the financial crisis which shocked the market and the stock plummeted. The market is basically calling Maggie a liar. Really, your not going to cut, we say yes you are. The other thing the market is saying is that the recent revenue short fall will accelerate. FTR says no, part of it was seasonal, and we can turn it around. Throw in the history of VZ acquisitions by other telcos and here we are.
There are a handful of inexpensive under 6.00 high yielders out there. Until we can demonstrate revenue growth the stock will languish. There is a revenue point where the dividend could no longer be maintained I am not sure how low revenue would have to be to reach that point. 2012 q3 and q4 are critical for turning the revenue up. As a share holder I want to believe this will happen. If I wasn't a share holder I might consider taking a new small starting position, adding slowly over time. I would not make any big bets until I saw a single quarter of revenue growth. So in that regard Vaseline is right.