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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (15576)10/6/2002 3:21:14 PM
From: Marc Fortier  Read Replies (2) of 79128
 
Paul, regarding RJR, what do you think of the following article:

quote.bloomberg.com

I was particularly surprised to read that the dividend might be in jeopardy if the price pressures remained too long. I don't know how RJR with its sound balance sheet could come to that.

Here is an excerpt:

"Cut a couple of hundred million in dollars from net income this year and they'll have a tough time paying a dividend,'' Peris said. R.J. Reynolds increased its quarterly dividend by 8.6 percent in June to 95 cents a share."

Like you, I took a position lately, largely because of the dividend. I was also feeling quite sure of my investment, because of the book value and the cash at hand. Now, I am very skeptical about was said in this article, but I can't help but fear that the stock will trend down if such talks become widely spread.
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