Dividend Cut ..... So What?The dividend cut is sort of a surprise, but yet at the same time it isn't.
Everyone knew that a 30% yield was not sustainable and there would be a move up coming or a dividend cut.
Anyways, the dividend cut means there will be roughly $250 million in additional funds per year that can be used to pay down the debt.
I expect there will be some selling to get us going, but I don't think anyone is really surprised at the company's actions.