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Windstream Holdings, Inc. Message Board

  • johns.patrick johns.patrick Feb 14, 2013 12:23 PM Flag

    haven't done anything but read short story on this but

    they seemed to have announced a $2B buyback as well. I'll dig in tonight but this seems like a big over reaction, caught 5K shares at 8.91

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    • I think Century link announced the buyback.

      On February 13, CenturyLink (CTL) shocked the markets when it announced a revised "capital allocation strategy" which included a $2B share repurchase program and a reduction of its dividend by 25%. Also mentioned in the announcement, was a plan to utilize free cash flow to repay debt and to maintain leverage at less than 3.0 times EBITDA. The market has reacted quite negatively to this announcement, sending shares lower by over 13% in the after-hours trading.

    • Don't know where you heard that but, no way. Market cap of 5.3B, you say they are buying back half of their shares, heck they only have $114M in cash.

      • 1 Reply to stockingup_1999
      • Sorry all, reacting to the CTL message, didn't mean to confuse - no WIN did not announce a buy back. CTL announced a 1.8B dividend cut and a $2B share buyback at the same time. Seems they feel the stock is cheap and SH are better served if company buys back 10% of the outstanding shares than gives the cash to them. Interesting strategy because to reinstate the dividend would only cost 1.6B with 10% of the shares retired. FYI that stock is down 20%, very interesting but CEO indicated they would be downgraded to junk as well, but also doesn't plan to do any more investing for a while. Again that stock is down 20%, nice time to start implementing that buy back, very interesting for a quick trade maybe

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