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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: doug doan who wrote (10237)3/26/1997 7:27:00 PM
From: Salah Mohamed   of 42771
 
Hi Doug...About Dividend

>>What are your thoughts about a dividend?<<

This, I like a lot. This company is becoming like a utility, they are generating cash without growth. I expect them to make $.15 to $.17 (quarterly) over the next 3 quarters. If they pay 2/3 of these earnings in dividends, say $.10 per share quarterly, they still increase their cash by about 20M quarterly. Further, this will provide a solid support for the stock price. With a dividend of about 4% of the current stock price, the stock could easily trade around $15 instead of $10. However, my understanding is that subject was discussed in the shareholder meeting in 1996 and the management indicated that they will not do it. Maybe, they change their mind this year with the promised turnaround not here yet.

Regards

Salah
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