On March 26, legacy rural wireline carrier Windstream Holdings, Inc. (NASDAQ: WIN) formerly announced that its board had authorized the spin-out of "select telecommunications assets" into a REIT, Communications Sales & Leasing, Inc. (NASDAQ: CSAL).
After the bell on March 27, the S&P 500 Index announced that it was removing Windstream, a technology/telecom company, and replacing it with net lease REIT Realty Income Corp (NYSE: O).
It is a bit ironic, that the CS&L REIT spin-out was a primary catalyst for the S&P 500 to add $11.5 billion market cap Realty Income to this prestigious group of companies.
Tale Of The Tape
Windstream's dividend yield had been the highest of any S&P 500 company.
Following the REIT (PropCo) spin-off, the Windstream (OpCo) entity will do a 1-for-6 reverse stock split and convert itself from a corporation to a limited liability company. Windstream shareholders will get 0.2 ...
/www.benzinga.com/news/15/03/5367834/windstream-will-no-longer-pay-the-s-p-500s-highest-yield-what-investors-need-to-k alt=Windstream Will No Longer Pay The S&P 500's Highest Yield: What Investors Need To Know>Full story available on Benzinga.com
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