If that is your eduacated opinion, then you need to go back to school for more education. PBI just raised their dividend last month. Seems odd to raise it last month only to "very shortly" cut it. PBI generates sufficient cash for the dividned. BTW, I have heard some people on this board comment that they have too much debt. If you look at PBI cash flow statements over the past 3 years, they have used much of their free cashflow for share buybacks instead of debt paydown. They have the ability to pay down debt (when they see that as the best use of cash).