Well Mr. bugs---If a company is paying out 5% and the going Bank Rates are less than 1% I would say that the CY BOD's is not too "prudent" and not doing their jobs to pay out 5% when Business Conditions are going backwards. What do you think??
"The dividend policy may be changed or cancelled at the Company’s discretion at any time."
This does not tell me that a Dividend is written in stone. It tells me that Management is posturing to cut or eliminate the dividend.
The US Economy is NOT GROWING. The Federal Reserve is now considering changing the QEInfinity target to an Unemployment Rate of 5.5 % or 6% when the current goal is 6.5% to start the "Taper!"
Some Economists are now putting the QEInfinity to last until the year 2020!!! That means the 0% interest rates will be around for 7 more years--it also means that the order flow will not get better in the next 7 years!!!
My advice would be to find out where the Federal Reserve is putting the 85 Billion dollars a month and dump your money there---Hint! Hint! Financials/Home Builders!
coolhead--yes, the Dividend % is great. BUT, I would caution you about a couple of things--Number 1, the same people that told you that "the trough was in" in Q1 year 2012 and "I'm holding mine(stock,") have told you that the Dividend is "untouchable. Number 2, the Volume recently is less than 2 Million Shares a day---which tells me to believe there is no interest in the Company even with a 4 to 5 percent dividend return.. Number 3, I do not ever recall CY giving guidance on the down side for 2 quarters at one time---as they did for Q3 and Q4 of 2013.
The Economy, despite the lofty heights of the Stock Markets, sucks----and unemployment is still rampant!!
I would be quite cautious of thinking the dividend is "untouchable!!"
There are probably thousand of stocks that will make you some money NOW! Why anyone would "screw" around with a Tech stock in general and CY in particular I do not understand.
I would suggest Banks/Financials and Home Builders as the best stocks to own NOW! The Federal Reserve has told you that interest rates will remain LOW at least until March 2014--add to that the Home Builders have corrected some recently and so have the Banks/Financials. The Fed is pumping 85 Billion dollars a month into these two sectors---because these are the Sectors that will pull the Economy UP the quickest. I have done extremely well with--BAC, WFC, BBT, C, AGO in the Financial arena--and in Builders DHI, HOV, LEN, PHM, RYL, TOL and KBH. There are other companys too that will do well--GE is one.
You can Buy the above Stocks NOW---when Interest Rates start to Rise again sell them and go into 3 and 6 Month Treasury Bills as Interest Rates are apt to SOAR!