Stock drops 22%, and dividend is lowered 25%. So the yield is basically unchanged at 6.7% currently.
You got to be either brain dead or work for CTL.
Other than giving a payday to the CTL investment bankers, the decision to use $2 B to buy back stock, instead of maintaining the dividend, was one of the most asinine decisions I have ever seen.
FYI, as noted by today's action, most CTL shareholders were in it for the dividend. In one moronic decision, you negated over 3 years of dividend payments.
I can see cutting the dividend, but the share buy back is a total joke and will enrich only CTL's investment bankers via hefty commissions.
INVESTORS DON"T BUY MAJOR TELECOM COMPANIES FOR GROWTH, ESPECIALLY WHEN THERE IS A RECORD OF DECLINING SALES!
I cannot understand the buy back. That is the dumbest things ever. I could see lowering the dividend and using the money to pay down debt but to buy back shares is just stupid. Unless they never plan on paying doing the buy back.
Pumper boy, don't you understand the morons running this company have destroyed their credibility with the street, so nobody will give a friggin rats #$%$ about what the dividend is for a long time!
Stupid is as stupid speaks!
Idiot, are you a CTL exec or in IR?
The shareholders have loss 22% in just one day on a moronic decision.
Let the lawsuits begin!
Yes, but it really helps if you are buying in today rather than holding from yesterday.
Plus much more upside than 41
Good point. I was thinking the same thing.