Lets compare. INTC = 4% and todays WSJ says that New York Melon is going to start charging costomers to hold large sums of their cash. When the investing public finally figures this out, INTC should pop big time as investors will have to find a new place to park their billions without having to pay.
At $16, INTC would be yielding 5.25% instead of 4% but you are absolutely correct about having enough cash to transact the business necessary. For 5.25%, one might be tempted to make some portfolio changes to take advantage. It beats the sub-3% in treasuries.
It would take INTC specific news to trigger another 25% drop in INTC. With the dividend cash flow coverage and cash in the bank, the 21 cents per quarter is pretty well protected.