I don't own BT but was looking to buy back when it was yielding 10% (round $30)...and that was less than a month ago. I bought Qwest instead...and it hasn't fared any better. My understanding is that BT is just an annuity. Not much growth, but very good cash flow and when I started watching it the consensus was that they could cover the divvy without trouble. That was S&P's opinion for what it's worth. Now, however, the market is saying that a 17-19% dividend is unlikely. Frankly, I have no idea. I have some closed end income funds that have gone from 7-9% payouts to 20%+. If I don't sell and I drip the dividends I can pick up some really cheap shares....but for me, right now, I don't see a bottom for BT and I'll probably just keep watching it.