Just noticed the exchange between likes2invedt and Demo. When likes2invest asks him how he and his family are doing, Demo quickly lapses into some whining about board members. Does that sound like he has his priorities mixed up?
Probably a smart move for now. I would defer to someone with a long history with this company, but I suspect the recent price appreciation was largely dividend-related, so after it goes ex-dividend it may well retrench into the 9s.
They must react to the situation. Would you rather get temporary joy out of the dividend or see the company strengthen itself for the long haul? It does hurt right now, but maybe we'll all be clapping if/when they acquire a weakened but accretive company for relative peanuts. There has to be some potentially great deals out there right now.
The DC Public Service Commission, drunk on power, misjudged how much it could squeeze out of EXC. A merger would have been great financially for DC customers. Now they're stuck in the same old situation. EXC can now take a little time to heal up and then study what other ventures might be accretive. A good deal always has to work for both sides.