RE:MehThe dividend from 2 years ago had been out of sync with reality for a long time. Going straight back to that would have been crazy.
While my first choice would have been continuing with the buybacks and debt reduction (and no dividend) I can see why they restarted the dividend. Some smaller shareholders may have been counting on SXP dividends to help pay their bills. This was a reasonable move by the company to make things right, at least somewhat, with those shareholders.
And you have to note the market's positive reaction.
One takeaway--and this is one reason I am NOT selling. I doubt they would have reinstated the dividend unless they knew that Q4 is going to be very strong.
One other comment. SXP management (and rank and file) should get top marks for the way things have unfolded. A few years ago they were having all kinds of problems with the machinery. But now it looks like the machinery (figurative and literal) is humming VERY smoothly.
Bravo for Stewart Emerson and the whole team and, yes, the board also.