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No. of Recommendations: 3
Dividend now is less than half that: cut to $1.00/year in 2019....and that's how we get the almost 10%.

They cut the dividend in 2013 I believe and then again in 2019 that all was under the CEO Glenn Post. They bought Level 3 and then about 6 months or so later Storey, The CEO of Level 3 took over early from Glenn Post. ( I think Glenn was pushed out because he was really incompetent). Now with Storey they have been reducing their debt and shuffling around their loans to better interest rates. The dividend is actually supported by their Free Cash flow and the last time I looked at them I think they were paying down their Debt at around 1 billion a year. They are slimming down their work force by giving out early retirement packages and getting rid of the pensions by paying people out of them. The pensions are going to take awhile because not everyone, of course, is taking the pay outs. I don't think they will cut the dividend again unless they really want to accelerate the pay off of the debt, but I don't think they will do that. I have no money in the race just was interested in looking at them.

Andy
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