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The div. is being cut to $1.58 a year. Therefore the real value of this stock is actually around $25, assuming a 6% or so yeild.
Who says it is being cut to $1.58? Where did you see this? thanks.
Actually the dividend is being cut to $1.54. At $30 that would represent a 5.1% yield. If they are able to grow after that they would be able to increase the dividend and the stock price will follow. See the press release of 2-26-07.