So the dividend goes from $2.90 a year to $2.16 a year per share. Who cares? At the current share price, $2.16 per share per year is about 6.7%. When the share price was above $40, the dividend yield was right at 7%. So, at this price, you still get almost the same dividend yield as before, plus you get the potential of share price increase. As a bonus, the buyback program will help support the share price. I bought more this morning...
Sentiment: Strong Buy
I care. Apparently you are a novice investor who does not really own any shares. I am a 70-year old investor who has held CTL for over 10 years. My position is over $30K. At my cost basis my position was yielding 8%. I also had a capital gain of almost 17%. Now thanks to management’s stupidity I have a capital loss of minus 11%, which is an overnight drop of 28% in my position. And, my yield is now only 6%. You are a perfect example of why we need to reform our educational system.
I care, but perhaps you should have booked some profits while you were up if you're really worried about the current price. Otherwise, sit back and relax, the stock price will surely recover in 10 years and I'm sure the divy will be higher. 6%+ is still a pretty good annual return.
I care too. I recently retired and was going to roll over my old employee 401k "earlier this week" but got delayed. I lost $12k since checking the balance a few days ago. My fault for not changing it earlier. I have other retirement funds but never saw this change coming. Oh well learn and live.
Well pops, I'm a 82 year old investor and am diversified so this is a buying opportunity for me. I expect this company to go right back where they were, in short order. Eventually they will return to the prior dividend.
Admittedly, "who cares?", was not the best choice of words. And, as someone who bought near $40, I sympathize with those who lost share value. I guess my overall point is that the price now to me is a very attractive entry point and/or good time to average down. My guess is this will be back in the $38 to $45 range by the end of the year. And, even though a little lower than before, the dividend yield is still much higher than any savings accounts are offering right now.
Sentiment: Strong Buy
WHO CARES ??? anyone whos entire investment made over a yr. ago was totally wiped out and those who have been buying in the last yr. are now heavy losers . u think they are going to get their $ back on dividends ?? u seem to forget , 1000's of people were already in .. stupid question ;.
I was one of the guys already in for a long time. Boy do I feel horrible right now. I was shocked to see my profolio's value this morning and called thinking someone hacked into the account and got an unauthorized distribution. I was going to pull money out earlier this week but got delayed. I understand the stock price will recover over time but not in my timeframe. I can't believe the CTL board did this to it stockholders. Shame on me.
WHAT? Who cares if they wern't holding the stock. If you held the stock you lost both 25% of your dividend and 22% of your stock price. I can't believe you posted this and I did not own the stock but I did buy a little yesterday. That being sid I sure do undestand WHO CARES!