NorthPoint Communications Holdings, Inc. (NPNT) Message Board

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Technology Stocks : NorthPoint Communications Holdings, Inc. (NPNT)

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To: Offshore who wrote (715)	10/26/2000 7:53:01 PM
From: Ernie Kelley	Read Replies (2) of 786

It's so low now I've already written it off as a total loss so I guess I'll hang in there and see if anything happens. After we get our $2.50 dividend it will be worth about $2.00 a share so it can really only go down another 2 points and then it's worth nothing, only we get stuck with the taxes on the dividend. This $2.50 a share dividend is one of the dumbest things I have ever heard of. "$450 million will be used to fund the "new" NorthPoint's business plan, and NorthPoint shareholders will receive $350 million in cash or approximately $2.50 per share." I would think that they could find better things to do with $350 million that to try to keep their stock price above $3 a share. Sad thing about it is I also own some VZ, so in effect I'm financing my own dividend. Such a deal. The problem is nobody wants to buy 45% of a company even if it is almost free. I think the shareholders really got screwed on this one. As far as "should we dump this garbage now or wait?" I guess you need to ask yourself is it worth $2 a share to wait and see.

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