Nokia Housekeeping ...
Jim,
<< "NOK halts stock buybacks and cuts divvie" ... Appears they halted dividend in 4Q. >>
They don't pay a dividend in Q4. They pay their annual dividend in April. The dividend will be reduced this year but it still will yield extremely well at today's price which stood at a 4½ year low last time I looked.
Nokia's Board of Directors will propose to the Annual General Meeting on April 23, 2009 that a dividend of EUR 0.40 (~$0.52 USD at todays rate) per share be paid from the fiscal year 2008. The dividend ex-date would be April 24, 2009, the record date April 28, 2009 and the pay date on or about May 13, 2009. The actual dividend pay date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments.
As for buybacks, which were halted one quarter ago, the board will authorize a the Board will propose that the AGM authorize the Board to resolve to repurchase up to 360 million Nokia shares, but Rick stated that their are no immediate plans to resume share repurchase at the moment. The majority of the shares held by Nokia from 2008 repurchases will be cancel led prior to the AGM as has been their practice in prior years.
<< Seems NOK has difficulty calculating percentage change,----especially showing a negative for GSM stuff >>
At first glance it looks like the slidemeister may have calculated the annual increase/decrease, not quarterly YoY, but I haven't yet backtracked and run the math on that, which I intend to do shortly.
Overall Nokia submitted a pi$$ poor report -- lower than my modest expectations in almost every regard, and that does not bode well for this sector. It will be interesting to see how Samsung reports this evening. Unit sell in should be fairly good. Operating margins will be key as they were down to single digit last quarter. They hopefully have their scandals behind them but they are beginning a major corporate reorganization reducing to two divisions and shuffling management ...
Message 25332600
Like LG Electronics, Samsung Corp. will likely be unprofitable this quarter
Best,
- Eric - |
